ASX 200 Extends Gains

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ASX 200 Extends Gains
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 lifted 0.22% in early deals on Tuesday, extending gains of 0.39% in the previous session and tracking U.S. indices higher as market participants cheered the U.S. Food and Drug Administration’s full approval of the Pfizer (NYSE: PFE ) and BioNTech Covid-19 vaccine.

In local coronavirus news, New South Wales tallied 753 fresh cases today as health authorities reported that the state had hit its target of 6 million vaccine doses administered, Victoria added 50 local transmissions amid a fresh outbreak at a regional school and Queensland reported 2 locally acquired cases.

Among stocks, Oil Search Ltd (ASX: OSH ) lifted 1.49% after reporting earnings as the company edges closer to sealing a A$22 billion deal to merge with larger rival Santos Ltd (ASX: STO ). Nanosonics Ltd (ASX: NAN ) jumped 16.47% after the company reported results . Meantime, mining stocks were higher with Rio Tinto Ltd (ASX: RIO ), BHP Billiton Ltd (ASX: BHP ) and Fortescue Metals Group Ltd (ASX: FMG ) adding 0.74%, 0.76% and 0.36% respectively.

On the bond markets, local 10-year bond yields were at 6-month lows of 1.11% while US 10-year rates were at 1.26%.

In New Zealand, the NZX 50 added 47.03 points or 0.36% to 8-months highs of 13111.1.

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