Australia Market ends higher

The Australian market finished session higher on Monday, 22 March 2021, snapping a three-session losing streak, helped by gains in biotech giant CSL and takeover target casino operator Crown Resorts.

At closing bell, the benchmark S&P/ASX200 advanced 44.23 points, or 0.66%, to 6,752.46. The broader All Ordinaries added 35.42 points, or 0.51%, to 6,995.01.

Shares of biotech giant CSL added 2.5% to close at A$260.16 after the Therapeutic Goods Administration gave the company formal approval to begin production of AstraZeneca's COVID-19 vaccine in Melbourne.

Crown Resorts soared 21.4% after Blackstone Group Inc. offered to buy the troubled casino operator in an A$8.02 billion deal. Rival SkyCity Entertainment rallied 3.9%, Tabcorp gained 2.4% and Aristocrat Leisure added 1.5%.

Telstra finished 1.3% higher at A$3.25 after announcing it will establish a new holding company and split its international division into a new subsidiary as it continues its biggest restructure since privatisation.

CURRENCY NEWS: The Australian dollar changed hands at $0.7722, lower than levels above $0.78 seen last week.

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