Australian Shares Add 0.36% as Tech and Healthcare Lifts

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Australian Shares Add 0.36% as Tech and Healthcare Lifts
Credit: © Reuters.

By Oliver Gray - The ASX 200 added 27.10 points or 0.36% to 7,470.10 during Monday’s session, recouping a 0.2% decline in the previous week as strong gains in technology and healthcare stocks boosted sentiment while long term bond yields eased.

Among stocks, Mesoblast Ltd (ASX: MSB ) surged 11.76% after releasing a phase three trial result. Incitec Pivot Ltd (ASX: IPL ) climbed 3.9% after reporting a strong increase in revenue and profit. Major miners finished mixed, with Rio Tinto Ltd (ASX: RIO ) down 0.26%, BHP Billiton Ltd (ASX: BHP ) falling 0.88% while Fortescue Metals Group Ltd (ASX: FMG ) gained 1.33%. Gold miners provided solid gains with Northern Star Resources Ltd (ASX: NST ) adding 0.19%, Newcrest Mining Ltd (ASX: NCM ) adding 0.59%, and Chalice Gold Mines Ltd (ASX: CHN ) up 1.84%. Tech names closed higher as Xero Ltd (ASX: XRO ) gained 2.73%, Technology One Ltd (ASX: TNE ) added 1.97% to close at record highs, Appen Ltd (ASX: APX ) lifted 3.14%, Zip Co Ltd (ASX: Z1P ) added 1.64% while Afterpay Touch Group Ltd (ASX: APT ) fell 0.92%.

On the bond markets, Australia 10-Year rates were at 1.774%, while United States 10-Year yields were at 1.558%.

In New Zealand, the NZX 50 was up 0.44% to 12964.

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