By Oliver Gray
Investing.com - The S&P/ASX 200 moved higher in Monday’s session, adding 18.6 points or 0.25% to 7425.2, slightly recouping losses of 1.6% in the previous week as market participants traded cautiously ahead of key employment data due to be released later in the week.
In coronavirus news, New South Wales tallied 1262 cases as vaccination rates continue to surge across the state as health authorities continue to ease restrictions. Victoria recorded 473 new locally acquired cases, the highest tally since August 4 last year. Meantime, the ACT recorded 13 fresh cases as Chief Minister Andrew Barr noted that the territory is due to pass 75% of first doses in eligible adults over the coming days.
Among stocks, Sydney Airport Holdings Ltd (ASX: SYD ) surged 4.62% after the company recommended that its shareholders accept a $23.6 billion takeover offer from a group of superannuation fund suitors unless another bidder emerges with a better deal. Qantas Airways Ltd (ASX: QAN ) closed 0.19% lower after the Australian Competition and Consumer Commission (ACCC) rejected an application to launch a new service from Cairns to Tokyo in a proposed alliance with Japan Airlines Co Ltd (T: 9201 ).
Later in the week, investors will be closely monitoring local employment figures, with expectations of a loss of 70k jobs amid protracted lockdown conditions across the country.
In New Zealand, the NZX 50 added 100.18 points or 0.77% to 13170.89.
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