Australia Market ends firmer

The Australian share market finished session marginal higher on Monday, 05 July 2021, extending the gains of the previous session, buoyed by positive cues from Wall Street on Friday and as the Australian Bureau of Statistics data showed retail sales rose 0.4% in May on a seasonally adjusted basis.

However, market gains capped amid concerned about the coronavirus infections in New South Wales and the related lockdown.

At closing bell, the benchmark S&P/ASX200 was up 6.45 points, or 0.09%, to 7,315. The broader All Ordinaries rose 1.93 points, or 0.03%, to 7,589.

Total 7 of 11 sectors ended lower despite gains the S&P/ASX 200 Index. Industrials was the best performing sector, gaining 5.4%, followed by telecommunication services (up 2.8%) and energy (up 2.4%) sectors. Utilities was worst performing sector, falling 3.1%, followed healthcare (down 1.8%), Information Technology (down 1.3%), and real estate (down 1.1%) sectors.

The best performing stocks in the S&P/ASX200 were Sydney Airport (up 33.9%), Chalice Mining (up 12%), Auckland International Airport (up 5.5%), Orocobre (up 3.9%), and Atlas Arreria (up 3.5%), while the worst performing stocks were Clinuvel Pharmaceuticals (down 5.2%), Appen (down 5.1%), Nuix (down 4.9%), Nine Entertainment Co Holdings (down 4.9%), and Tabcorp Holdings (down 4.4%).

Shares of Sydney Airport soared 34% after a group of infrastructure investors proposed A$22.26 billion bid for airport operator.

Shares of Tabcorp Holdings fell 5 per cent, as the gambling firm said it would spin off its Lotteries & Keno business into a listed entity.

CURRENCY NEWS: Australian dollars were weaker ahead of the Reserve Bank of Australia's policy meeting. The Australian dollar changed hands at $0.7516 after a recovery last week from below $0.748.

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