Australia Market extends gains to fourth day

The Australian share market finished higher for the fourth consecutive session on Tuesday, 25 May 2021, on tracking Wall Street's overnight advance, with shares in property, telecommunications, and financials were notable gainers.

At closing bell, the benchmark S&P/ASX200 advanced 69.26 points, or 0.98%, to 7,115.19. The broader All Ordinaries added 73.05 points, or 1%, to 7,349.06.

Total 9 of 11 S&P/ASX200 sectors ended higher, with top performing sector were realty (1.46%), telecommunication services (up 1.35%), consumer discretionary (up 1.27%), and financial (up 1.11%), while worst performing sectors was utilities (down 0.44%).

The top performing stocks in the S&P/ASX200 were S&P/ASX200 HUB24 (up 8.89%), Kogan.com (up 6.61%), Pilbara Minerals (up (5.12%), Carsales.com (up 5.11%), and Seek (up 4.68%), while worst performing stocks were Resolute Mining (down 6.3%), Nuix (down 5.49%), Fisher & Paykel Healthcare Co (down 3.75%), Regis Resources (down 2.67%), and Westgold Resources (down 2.2%).

The Australian market got off to a strong start after all three key U.S. market gauges closed higher on Monday following a slide of U.S. long-term interest rates.

Financials were higher. Westpac rose 0.9%, ANZ was up 1%, and NAB gained 0.9%. Macquarie Group surged 2.5%.

Shares of miners were higher. BHP rose 1.3%, Rio Tinto added 1.6%, and Fortescue Metals was 1.6%.

Travel stocks were mixed, with Qantas (QAN) down 0.2%, Flight Centre (FLT) 0.3% lower, while Webjet (WEB) and Sydney Airport (SYD) bounced back from Monday's declines

CURRENCY NEWS: The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.582 lower than levels above 90 seen recently. The Australian dollar changed hands at $0.7764, following a bounce yesterday from around $0.772.

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