By Oliver Gray
Investing.com - The ASX 200 added 135.50 points or 1.88% to 7332.20 on Thursday, snapping 2 sessions of consecutive losses amid broad-based gains, with rebounding Iron ore prices lifting mining heavyweights, while higher long term bond yields proved a boon for financial stocks.
In coronavirus news, Victoria reported a record 1438 locally acquired cases on Thursday. New South Wales tallied 941 cases, as Premier Gladys Berejiklian flagged potentially easing restrictions before December if the state reaches the 80% double-dose vaccination target. Meantime, the ACT tallied 31 fresh cases, while Queensland has reintroduced restrictions for six local government areas from 4pm today after reporting 6 locally acquired cases, with 2 unlinked to current clusters.
Among stocks, Rio Tinto Ltd (ASX: RIO ) was up 3.4%, BHP Billiton Ltd (ASX: BHP ) lifted 3.35% and Fortescue Metals Group Ltd (ASX: FMG ) added 1.08%. Banking names also moved higher with Westpac Banking Corp (ASX: WBC ) up 3.3%, Commonwealth Bank Of Australia (ASX: CBA ) adding 1.67% and National Australia Bank Ltd (ASX: NAB ) up 2.17%. Zip Co Ltd (ASX: Z1P ) also closed 1.29% higher after announcing an agreement with technology giant Microsoft (NASDAQ: MSFT ) to integrate its payment technology into Microsoft Edge.
In local data, RBA’s monthly credit figures revealed the outstanding stock of housing credit grew by 6.2% in the year to August, posting the quickest annual pace since February 2018 amid lower interest rates and tight supplies.
In New Zealand, the NZX 50 added 154.07 points or 1.17% to 13275.76.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.