Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Australian shares track Wall Street higher ahead of RBA meeting

Published 06/04/2021, 11:57 am
Updated 06/04/2021, 12:00 pm
© Reuters.

* Australian benchmark index hits highest since mid-Feb

* Cleanaway top gainer on deal to buy Suez's local unit

* RBA expected to hold rates at monthly meeting

By Shruti Sonal

April 6 (Reuters) - Australian shares climbed on Tuesday as trading resumed after a long weekend, with market sentiment bolstered by Wall Street's strong finish overnight, while investors waited for a policy meeting of the country's central bank due later in the day.

U.S. stocks rallied overnight, with the Dow and the S&P 500 closing at record levels, after a survey showed a measure of services industry activity jumped to a record high in March. .N

The S&P/ASX 200 index .AXJO rose as much as 1.2% to 6,909, hitting its highest since mid-February, ahead of the Reserve Bank of Australia's monthly policy meeting where it is widely expected to maintain key rates at a record low of 0.1% and stick to a dovish tone. and New Zealand markets were closed on Friday and Monday for holidays.

Gains were broad-based in Australia, with nearly all sectors trading in positive territory.

Tech stocks .AXIJ added more than 4% to hit their highest level in over a month. Buy-now-pay-later heavyweight Afterpay Ltd APT.AX jumped more than 8%, while software firm Xero Ltd XRO.AX gained 3%.

Strength in crude, copper and bullion prices lifted energy .AXEJ , mining .AXMM and gold .AXGD stocks, which climbed in a range of 1% to 2%.

Among individual stocks, Cleanaway Waste Management (NYSE:WM) CWY.AX jumped more than 11% to lead gains on the benchmark after it said it would acquire the local recycling and recovery business of French firm Suez SEVI.PA for A$2.52 billion ($1.93 billion). stocks in Australia and New Zealand climbed ahead of a possible announcement regarding a travel bubble between the two countries. Air New Zealand AIR.NZ and Qantas Airways QAN.AX rose more than 6% and 3%, respectively.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 fell 0.3%, with utilities weighing the most.

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.