Australian shares end at over 5-month high as CSL, financials gain

Australian shares closed at a more than five-month high on Wednesday, boosted by gains in drugmaker CSL Ltd and financial stocks, with lower infections of the novel coronavirus in the country aiding sentiment.

The S&P/ASX 200 index ended 0.7pc higher at 6,167.60, its highest close since March 6, 2020.

Shares of CSL, one of the largest listed Australian stocks, gained 6.4pc to close at their highest level since April 29 after the company posted a 17pc rise in its annual profit.

The stock's jump helped the Australian healthcare index climb about 4pc at a near six-month closing high.

"CSL alone is adding close to 30 points on the ASX 200. So, that stock is single-handedly boosting the Aussie market," Steven Daghlian, market analyst at CommSec said.

The financial index added 1.2pc, buoyed by Australia and New Zealand Banking Group, up 3.4pc, after the lender resumed dividend payouts, having halted them early this year due to the coronavirus crisis.

The remaining three of the Big Four banks all closed around 1pc higher.

Meanwhile, Australia's second most-populous state recorded 12 COVID-19 deaths, down from 17 a day earlier, signalling of a further stabilization in new cases.

"COVID-19 obviously is always at the front of buying when it comes to investment decisions at the moment," Daglian said.

Limiting gains on the benchmark, the gold index fell 3.4pc on lower bullion prices. Resolute Mining Ltd fell 17.5pc and West African Resources Ltd lost 6.9pc.

In New Zealand, the benchmark S&P/NZX 50 index closed 0.8pc lower at 11,751.3.

Top percentage losers on the benchmark were A2 Milk Company Ltd, down 5.4pc, followed by Synlait Milk Ltd, losing 4.6pc.