AIRLINK 72.50 Increased By ▲ 3.30 (4.77%)
BOP 5.03 Increased By ▲ 0.13 (2.65%)
CNERGY 4.31 Increased By ▲ 0.05 (1.17%)
DFML 31.70 Increased By ▲ 0.45 (1.44%)
DGKC 80.25 Increased By ▲ 3.00 (3.88%)
FCCL 21.00 Increased By ▲ 1.00 (5%)
FFBL 34.86 Decreased By ▼ -0.14 (-0.4%)
FFL 9.33 Increased By ▲ 0.21 (2.3%)
GGL 9.85 Increased By ▲ 0.05 (0.51%)
HBL 113.40 Increased By ▲ 0.64 (0.57%)
HUBC 134.15 Increased By ▲ 1.11 (0.83%)
HUMNL 7.02 Increased By ▲ 0.07 (1.01%)
KEL 4.37 Increased By ▲ 0.14 (3.31%)
KOSM 4.38 Increased By ▲ 0.13 (3.06%)
MLCF 37.30 Increased By ▲ 0.70 (1.91%)
OGDC 134.85 Increased By ▲ 1.98 (1.49%)
PAEL 23.75 Increased By ▲ 1.11 (4.9%)
PIAA 24.72 Increased By ▲ 0.52 (2.15%)
PIBTL 6.51 Increased By ▲ 0.05 (0.77%)
PPL 120.31 Increased By ▲ 4.01 (3.45%)
PRL 26.45 Increased By ▲ 0.55 (2.12%)
PTC 13.29 Increased By ▲ 0.21 (1.61%)
SEARL 52.83 Increased By ▲ 0.83 (1.6%)
SNGP 71.15 Increased By ▲ 3.55 (5.25%)
SSGC 10.58 Increased By ▲ 0.04 (0.38%)
TELE 8.41 Increased By ▲ 0.13 (1.57%)
TPLP 11.10 Increased By ▲ 0.30 (2.78%)
TRG 60.89 Increased By ▲ 1.60 (2.7%)
UNITY 25.27 Increased By ▲ 0.14 (0.56%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 7,489 Increased By 80.2 (1.08%)
BR30 24,536 Increased By 499.7 (2.08%)
KSE100 71,470 Increased By 803.1 (1.14%)
KSE30 23,431 Increased By 206.9 (0.89%)
Markets

Australian shares end higher on stimulus, hopes of easing curbs

  • The S&P/ASX 200 index added 1pc to finish at 5,872.9, snapping a three-day streak of losses.
Published October 1, 2020

Australian shares closed higher on Thursday, rebounding from a more than 2pc drop in the previous session, boosted by stimulus talks and hopes of further easing in coronavirus restrictions in the country.

The S&P/ASX 200 index added 1pc to finish at 5,872.9, snapping a three-day streak of losses.

Australian government announced a A$1.5 billion ($1.08 billion) package to revive manufacturing across six sectors as part of a plan to get the economy out of its first recession in three decades.

Aiding sentiment was a headway made by US lawmakers for a new $2.2 trillion pandemic relief package, which helped Wall Street post an upbeat close and exit the September quarter in black.

"Overnight rebound in Wall Street on talks that the US congress was close on stimulus plans only helps boost the sentiment," said James Tao, market analyst at CommSec.

"Sentiment is a lot more positive compared with just 24 hours ago, and these stimulus talks certainly make a huge difference," Tao added.

Meanwhile, easing of border restrictions between Queensland and New South Wales also helped the market, while low new daily cases in Victoria kept the hopes of a "COVID-normal" 2021 without lockdowns alive.

All three major sub-indexes jumped, with miners leading the pack.

Global iron ore mining giants BHP Group and Rio Tinto advanced up to 1.9pc and 1.2pc, respectively.

Financials were lifted by Commonwealth Bank of Australia and Australia and New Zealand Banking Group, which rose 0.7pc and 1pc, respectively.

In New Zealand, the benchmark S&P/NZX 50 index ended 0.6pc higher at 11,812.73, boosted by financials and healthcare sectors.

Dairy firm a2 Milk Co continued its losing streak, slipping 1pc to post its lowest close since March 17.

Comments

Comments are closed.