Australia Market extends gain

The Australian share market finished session higher on Thursday, 08 July 2021, on the back of rise in 9 of 11 sectors of the S&P/ASX 200 index, with shares in industrials, energy, consumer staples and materials sectors being notable gainers. However, concerns over the economic impact of coronavirus-led lockdowns in the country limited gains.

At closing bell, the benchmark S&P/ASX200 advanced 14.57 points, or 0.2%, to 7,341.43. The broader All Ordinaries added 15.56 points, or 0.2%, to 7,614.89.

Total 9 of 11 sectors ended higher along with the S&P/ASX 200 Index. Industrials was the best performing sector, gaining 5.83%, followed by energy (up 3.03%), consumer staples (up 1.94%), materials (up 1.44%), utilities (up 1.24%), and Information Technology (up 1.07%) sectors. Healthcare was worst performing sector, falling 1.02%.

The best performing stocks in the S&P/ASX200 were Zip Co (up 17.73%), Nuix (up 9.47%), Nearmap (up 6.55%), Seven Group Holdings (up 4.43%), and Redbubble (up 4.4%), while the worst performing stocks were Magellan Financial Group (down 3.87%), Perseus Mining (down 3.11%), Chalice Mining (down 2.77%), Unibail-Rodamco-Westfield (down 2.69%), and Whitehaven Coal (down 2.68%).

Sydney Airport Holdings jumped 2.9% after reports that a consortium led by Macquarie Group considering is exploring a rival offer for the company.

Zip Co. shares surged 13.7% after reports that Swedish buy-now-pay-later giant Klarna may have taken a strategic 4% stake in the firm.

CURRENCY NEWS: The Australian dollar changed hands at $0.7433 as it struggled to recover after slipping from above $0.756 earlier in the week.

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