Australia Market ends near two-month high

The Australian share market advanced for seventh straight session on Tuesday, 13 October 2020, as expectations that the United States would soon pass a coronavirus relief package lifted global equity markets.

At closing bell, the benchmark S&P/ASX200 index inclined 63.78 points, or 1.04%, to 6,195.75. The broader All Ordinaries added 57.14 points, or 0.9%, to 6,400.21.

Financial stocks climbed, with the Big Four banks adding between 1.5% and 3%. The Commonwealth Bank (CBA) added 1.1% as it held its Annual General Meeting (AGM) today.

Telstra (TLS) also held an AGM and climbed 4% as the telco re-iterated its FY21 guidance and also aims to improve shareholder returns by looking to maintain its current dividend and look to eventually increase it over time.

 

CURRENCY NEWS: The Australian dollar was at $0.7177, still above levels below $0.715 seen last week.

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