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Australian shares end at over 5-month high as CSL, financials gain

Published 19/08/2020, 04:35 pm
© Reuters.
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* CSL single-handedly boosted benchmark - analyst

* ANZ climbs after resuming dividends

* Gold stocks buck upward trend (Updates to close)

By Nikhil Subba

Aug 19 (Reuters) - Australian shares closed at a more than five-month high on Wednesday, boosted by gains in drugmaker CSL Ltd and financial stocks, with lower infections of the novel coronavirus in the country aiding sentiment.

The S&P/ASX 200 index .AXJO ended 0.7% higher at 6,167.60, its highest close since March 6, 2020.

Shares of CSL CSL.AX , one of the largest listed Australian stocks, gained 6.4% to close at their highest level since April 29 after the company posted a 17% rise in its annual profit. The stock's jump helped the Australian healthcare index .AXHJ climb about 4% at a near six-month closing high. alone is adding close to 30 points on the ASX 200. So, that stock is single-handedly boosting the Aussie market," Steven Daghlian, market analyst at CommSec said.

The financial index .AXFJ added 1.2%, buoyed by Australia and New Zealand Banking Group ANZ.AX , up 3.4%, after the lender resumed dividend payouts, having halted them early this year due to the coronavirus crisis. remaining three of the Big Four banks all closed around 1% higher.

Meanwhile, Australia's second most-populous state recorded 12 COVID-19 deaths, down from 17 a day earlier, signalling of a further stabilization in new cases. obviously is always at the front of buying when it comes to investment decisions at the moment," Daglian said.

Limiting gains on the benchmark, the gold index .AXGD fell 3.4% on lower bullion prices. Resolute Mining Ltd RSG.AX fell 17.5% and West African Resources Ltd WAF.AX lost 6.9%.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 closed 0.8% lower at 11,751.3.

Top percentage losers on the benchmark were A2 Milk Company Ltd ATM.NZ , down 5.4%, followed by Synlait Milk Ltd SML.NZ , losing 4.6%.

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