ASX 200 Extends Gains for 3rd Session

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ASX 200 Extends Gains for 3rd Session
Credit: © Reuters.

By Oliver Gray

Investing.com - The S&P/ASX 200 added 28.9 points or 0.39% to 7531.9 on Wednesday, extending gains for the third consecutive session, boosted by positive corporate earnings reports and a lift in commodity prices that helped miners and oil companies close higher.

On the coronavirus front, New South Wales tallied a record 919 fresh cases today with health authorities predicting further rises in the coming days. Victoria added 45 new cases with 17 in quarantine throughout their infectious period and Queensland reported zero fresh cases as health authorities paused hotspot arrivals for two weeks amid stretched capacity and staff. The ACT reported nine new cases. Meantime, an outbreak in neighbouring New Zealand has residents under lockdown restrictions as officials recorded 62 cases.

Among stocks, Wisetech Global Ltd (ASX: WTC ) surged 28.45% after reporting earnings results , while a rebound in Iron ore prices lifted mining stocks. Rio Tinto Ltd (ASX: RIO ) added 2.6%, BHP Billiton Ltd (ASX: BHP ) lifted 1.25% and Fortescue Metals Group Ltd (ASX: FMG ) gained 2.63%. Airline stocks also extended yesterday’s gains on vaccine optimism, with Qantas Airways Ltd (ASX: QAN ) lifting 5.41% and Flight Centre Ltd (ASX: FLT ) adding 7.42%.

In New Zealand, the NZX 50 added 101.62 points or 0.78% to fresh 6-month highs of 13173.48.

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