By Oliver Gray
Investing.com - The S&P/ASX 200 added 0.22% in early trade on Monday, following weekly losses of 1.6% as market participants tracked U.S. benchmark indices lower, while the coronavirus Delta variant continues to hamper a strong economic recovery.
On the coronavirus front, Victoria has recorded 473 new locally acquired Covid-19 cases, the highest increase in infections the state has seen in this outbreak, with 202 linked to known cases. Meantime, New South Wales tallied 1262 cases as vaccination rates continue to surge across the state as health authorities continue to ease restrictions.
Among stocks, Sydney Airport Holdings Ltd (ASX: SYD ) surged 5% after the company recommended that its shareholders accept an A$23.6 billion takeover offer from a group of superannuation fund suitors unless another bidder emerges with a better deal. Meantime, heavyweight mining stocks improved, with Rio Tinto Ltd (ASX: RIO ), BHP Billiton Ltd (ASX: BHP ), Fortescue Metals Group Ltd (ASX: FMG ) lifting 1.27%, 1.26% and 2.68% respectively.
In New Zealand, the nz50 was little moved at 16066.69.
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.