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Australian Shares Post Record Closing High

Stock MarketsAug 04, 2021 16:33
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© Reuters.

By Oliver Gray

Investing.com - The ASX 200 rebounded on Wednesday, adding 28.7 points or 0.38% to 7503.2, closing at fresh record highs after losses of 0.31% yesterday as investors proved optimistic, tracking US equities higher as strong Q2 earnings continue to roll in, while a rebound in mining stocks also boosted sentiment.

On the coronavirus front, New South Wales reported 233 cases today with only 92 of those in isolation during their infectious period as health authorities warned of further contagion as exposure sites continue to grow across south-west Sydney. Queensland reported 19 cases with 16 linked to the current Indooroopilly cluster and bringing the current outbreak to 63 cases, the state’s worst tally since the first wave in 2020. Victoria and Western Australia reported a single case each.

Among stocks, Rio Tinto Ltd (ASX:RIO), BHP Billiton Ltd (ASX:BHP), and Fortescue Metals Group Ltd (ASX:FMG) gained 1.62%, 2.17% and 0.75% respectively amid speculation of a relaxation in China’s steel output controls. Meantime, Splitit Ltd (ASX:SPT) surged 21.15%, tracking a recent frenzy in buy-now-pay-later stocks after Square (NYSE:SQ) CEO Jack Dorsey moved to acquire Afterpay Touch Group Ltd (ASX:APT) earlier this week in an A$39 billion takeover bid.

In New Zealand, the NZX 50 added 96.79 points or 0.76% to 12797.29.

Australian Shares Post Record Closing High
 

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By Oliver Gray Investing.com - The S&P/ASX 200 lost 56.5 points or 0.76% to 7403.7 on Friday, reversing gains of 0.52% in the previous session and closing near 7-week lows as a...

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