Australia Market ends 1.3% up

The Australian share market finished session higher on Monday, 04 October 2021, on tracking positive lead from Wall Street last Friday, led by financials and energy stocks. At closing bell, the benchmark S&P/ASX200 advanced 92.99 points, or 1.29%, to 7,278.54. The broader All Ordinaries index grew 90.13 points, or 1.2%, to 7,576.77.

The top performing stocks in this index were FLIGHT CENTRE TRAVEL GROUP and IDP EDUCATION, up 9.6% and 8.6% respectively. The bottom performing stocks in this index were SEALINK TRAVEL GROUP and REDBUBBLE, down 5.4% and 4.1% respectively.

Shares of banks and financials advanced, with Commonwealth Bank of Australia shares up 5% after the lender announced a successful completion of its A$6 billion ($4.37 billion) off-market share buy-back of ordinary shares. The other three big banks rose about 2% each.

 

Shares of energy companies rose after crude oil prices settled near three-year highs last week on expectations OPEC ministers will maintain a steady pace in raising supply. Origin Energy jumped 3.4%, while Woodside Petroleum and Santos gained around 2%.

CURRENCY NEWS: The Australian dollar changed hands at $0.7265 following a bounce late last week from around $0.72.

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