🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

Australia shares rise on easing virus worries, Coca-Cola Amatil deal

Published 26/10/2020, 11:54 am
AXJO
-
KO
-
CSL
-
CCL
-
CCEP
-
WBC
-
AXSJ
-
AXHJ
-
AXFJ
-
AXIJ
-
NZ50
-
WTC
-
BVS
-

* Victoria state reports zero new cases in 24 hours

* Coca-Cola (NYSE:KO) Amatil stock top gainer on benchmark

* Westpac drags financial stocks

* NZ markets closed for a holiday

Oct 26 (Reuters) - Australian shares rose on Monday as COVID-19 hotspot Victoria reported zero new cases for the first time in four months and Coca-Cola Amatil received a $6.6 billion buyout bid.

Gains in healthcare and tech stocks helped the S&P/ASX 200 index .AXJO firm 0.4% to 6,190.10 by 0049 GMT.

Victoria state has now gone 24 hours without detecting any new COVID-19 cases, a milestone last achieved four months ago, raising hopes that a stringent lockdown of Melbourne will be eased. state's Premier Daniel Andrews on Sunday had delayed the reopening of the city which went under a lockdown in July, even as businesses argued for the need to reopen the economy.

Meanwhile, Coca-Cola Amatil Ltd CCL.AX surged 16% to see its best day in over a decade and top the benchmark after Coca-Cola European Partners CCEPC.L offered to buy the Australian bottler, in what would be the country's biggest deal this year. jump also pushed consumer stocks .AXSJ 2% higher. The index marked its best session in nearly three weeks.

Aiding sentiment were signs of U.S. stimulus talks gathering momentum after House Speaker Nancy Pelosi reiterated the need for a round of aid as soon as possible and said the President Donald Trump's administration was reviewing the latest plans. other individual shares and sectors, the tech index .AXIJ rose 2.1%. Software maker WiseTech Global Ltd WTC.AX , jumped 3.3% and Bravura Solutions Ltd BVS.AX added 2.8%.

Healthcare stocks .AXHJ gained 1.1%, benefiting from firmness in the greenback as the United States is a top export destination for the companies. FRX/

Biotech major CSL Ltd CSL.AX jumped 1.6%, rising the most on the sub-index.

The heavyweight financial index .AXFJ slipped, with Westpac Banking Corp WBC.AX shares falling 0.9% after it revealed it would book a $870.4 million hit in second-half results. in New Zealand .NZ50 were closed for a holiday.

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.