Australia Market rises 0.3%

The Australian share market finished session higher on Monday, 13 September 2021, on the back of gains from energy and the materials stocks. At closing bell, the benchmark S&P/ASX200 advanced 18.58 points, or 0.25%, to 7,425.21. The broader All Ordinaries added 19.93 points, or 0.26%, to 7,726.13.

The top performing stocks in this index were PILBARA MINERALS and SILVER LAKE RESOURCES, up 7.32% and 5.38% respectively, while the bottom performing stocks were OMNI BRIDGEWAY and UNIBAIL-RODAMCO-WESTFIELD, down 4.5% and 3.1% respectively.

Shares of miners were up with stronger commodity prices. BHP added 0.6% and Fortescue Metals gained 0.8%. Pilbara Minerals was up 7.3%, Silver Lake rose 5.4%, and Lynas Rare Earths added 5.4%.

Shares of lenders were mixed with National Australia Bank falling 1%, but Commonwealth Bank and ANZ finished higher. Westpac was flat at A$25.64.

Shares of Sydney Airport (SYD) rose by 4.6% after receiving a sweetened $8.75 per share takeover today from Sydney Aviation Alliance. The consortium led by IFM most recently made an $8.45 per share bid following an initial $8.25 offer. SYD has granted the suitors an initial four-week period of due diligence.

CURRENCY NEWS: The Australian dollar changed hands at $0.7358 following its slide last week from above $0.744.

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