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Australia shares jump on positive corporate earnings, Wall Street

Published 15/02/2021, 11:32 am
Updated 15/02/2021, 11:36 am
© Reuters.

* JB Hi-Fi, Bendigo and Adelaide Bank up on profit jump

* Seven West Media rises 10.6% after Google partnership

* Coca-Cola (NYSE:KO) Amatil rises on takeover offer hike

* NZ bourse hits lowest since Nov. 23

Feb 15 (Reuters) - Australian shares advanced on Monday, bouncing back from last week's losses, as Wall Street's record finish on Friday and positive domestic corporate earnings boosted investor sentiment.

The S&P/ASX 200 index .AXJO was up 1% at 6,877.10 by 0030 GMT, its biggest intraday percentage jump since Feb. 5, after shedding 0.6% in the previous session.

On Friday, the S&P 500 .SPX and Nasdaq .IXIC set record closing highs on hopes of new fiscal aid from Washington to help the U.S. economy recover, while a sharp drop in new COVID-19 cases and hospitalisations in recent weeks also lifted market sentiment. .N

In Australia, miners .AXMM and financials .AXFJ were the biggest boosts to the benchmark index, climbing 1.8% and 0.7%, respectively.

All other sub-indexes also traded in positive territory, with energy firms .AXEJ adding 1.9% and tech stocks gaining 1.4%.

Retailer JB Hi-Fi JBH.AX climbed 2.1% after posting an 86.2% surge in half-year profit, while Bendigo and Adelaide Bank BEN.AX jumped as much as 10.5% and was the biggest gainer on the benchmark after logging a 67% rise in half-year profit. West Media SWM.AX gained 10.6% to hit its highest since May 2019 after it entered a deal with Alphabet Inc's GOOGL.O Google to provide content for the tech company's News Showcase product. Amatil CCL.AX rose 2.1% after Coca-Cola European Partners CCEPC.L raised its takeover offer by about 6%. operator Crown Resorts CWN.AX was up 1.1% after Chief Executive Officer Ken Barton resigned following an inquiry into money laundering allegations. New Zealand, the benchmark S&P/NZX 50 index .NZ50 slipped 1% to 12,469.12, its lowest since Nov. 23, 2020.

On Sunday, the country announced a three-day lockdown in its biggest city Auckland after three COVID-19 cases emerged, the first local infections since late January. ($1 = 1.2892 Australian dollars)

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