Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Australia shares climb 1.5% as country inches towards pre-pandemic normal

Published 01/03/2021, 12:15 pm
Updated 01/03/2021, 12:18 pm
© Reuters.

© Reuters.

* NZ falls as Auckland reinstates lockdown

* Improving FB-Aussie govt talks helps tech sector

* Healthcare stocks set for best day in nearly two weeks

March 1 (Reuters) - Australian shares rose more than 1% on Monday, after some of the country's most populous states further eased restrictions over the weekend as the regions recorded no community transmissions of the new coronavirus that causes COVID-19.

The S&P/ASX 200 index .AXJO was up 1.5% at 6,775.60, as of 0045 GMT. The benchmark finished 2.4% lower on Friday.

Life across Australia inched toward pre-pandemic normal, with New South Wales (NSW) and South Australia states allowing some dancing and Victoria permitting larger crowds at sporting events. Australian technology sub-index .AXIJ was top gainer on the benchmark, rising as much as 2.8% and set for its best session since Feb. 10, helped in part by the recent improvement in talks between Facebook (NASDAQ:FB) and the Australian government. Ltd ALU.AX advanced nearly 4% and was on track for its biggest intraday percentage gain since Oct. 8, 2020, while Afterpay Ltd APT.AX added about 4.2%.

Healthcare stocks .AXHJ rose more than 2% and were headed for their best day in nearly two weeks.

Clinuvel Pharma CUV.AX climbed about 3.5% to a near nine-week high, while Pro Medicus PME.AX gained close to 4.3%.

The heavyweight finanical index .AXFJ rose 1.4%, with the "Big Four" banks gaining between 0.7% and 1.3%.

Bucking the upward trend, gold stocks .AXGD tumbled up to 1.6%, as bullion prices slumped with a stronger dollar and elevated U.S. Treasury yields hammering non-yielding metal's appeal.

Meanwhile, New Zealand's benchmark S&P/NZX 50 index .NZ50 slid 0.3% to 12,188.65, after Auckland imposed a second lockdown this past month, as authorities try to rein in a cluster of the more contagious UK variant. Entertainment SKC.NZ fell nearly 4% after the company announced certain measures in response to the government's COVID-19 restrictions.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.