Australia Market snaps two-day losing streak

The Australian share market finished higher for the first time in three market days on Thursday, 07 October 2021, on the back of solid lead from Wall Street overnight, along with hopes of a short-term solution to the US debt ceiling after reports that U.S. Congressional Democrats and Republicans could reach a deal to raise the debt limit by a certain level that could tide the Treasury over until December.

At closing bell, the benchmark S&P/ASX200 advanced 50.12 points, or 0.7%, to 7,256.66. The broader All Ordinaries index rose by 54.97 points, or 0.73%, to 7,551.19.

The top performing stocks in this index were SUPER RETAIL GROUP and COLLINS FOODS, up 7.75% and 6.93% respectively. The bottom performing stocks in this index were WHITEHAVEN COAL and THE STAR ENTERTAINMENT GROUP, down 7% and 4.2% respectively.

Shares of banks and financials were up, with three of "Big Four" banks - National Australia Bank, Australia and New Zealand Banking Group and Westpac Banking - advanced between 0.3% and 1.1%.

Tech stocks advanced, with buy-now-pay-later (BNPL) giant Afterpay adding 2.6%. Shares of Healthcare firms were also higher, with CSL and Sonic Healthcare jumped by 1% and 4.2%, respectively.

Qube (QUB) eased after the ACCC announced its plan to conduct an investigation into potential competition issues arising from its acquisition of the Newcastle Agri Terminal.

CURRENCY NEWS: The Australian dollar changed hands at $0.7297 following yesterday's bounce from below $0.724.

Powered by Capital Market - Live News