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Australian Shares Rebound at Open

Published 29/07/2021, 10:50 am
Updated 29/07/2021, 10:51 am
© Reuters.

© Reuters.

By Oliver Gray

Investing.com - The ASX 200 lifted 31.5 points or 0.43% to 7410.8 on Thursday, partially recovering losses of 0.7% in the previous session as strong earnings from mining stocks boosted sentiment, while sentiment remained cautious as coronavirus infection rates continue to balloon.

Victoria reported 6 fresh local cases on Thursday, with 1 remaining unlinked to a known infection source, while New South Wales braced for fresh record cases today after lockdown extensions were tightened further yesterday, with over 2 million Australians unable to travel outside of their local government area for work. Meantime, Queensland contact tracers are moving to track 62 close contacts of a traveller who tested positive for the coronavirus Alpha variant after completing hotel quarantine.

Among stocks, Rio Tinto Ltd (ASX:RIO) has soared 2.9% to 136.01, BHP Billiton Ltd (ASX:BHP) has climbed 1.79% to 53.41. Fortescue Metals Group Ltd (ASX:FMG) is up 2.09% to 26.35 after exceeding shipment guidance for FY2021 and reporting record shipments during the fourth quarter.

In New Zealand, the NZX 50 added 87.34 points or 0.69% to 12682.66.

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