The Australian market finished session higher on Tuesday, 06 April 2021, as Reserve Bank of Australia announced its decision to maintain its interest rates at an all-time low and signalled that the cash rate would remain at 0.1% until at least 2024.
At closing bell, the benchmark S&P/ASX200 was up 67.17 points, or 0.84%, to 6,885.86. The broader All Ordinaries added 69.71 points, or 0.99%, to 7,133.91. Australian market was closed on last Friday and Monday for Easter holidays.
Nearly every sector improved, with only energy and utilities weaker. IT led gains, up 5.14%, while consumer discretionary increased 1.37% and material rose 0.82%.
Travel stocks jumped after New Zealand Prime Minister Jacinda Ardern said quarantine-free visits by Australians to New Zealand would be allowed from April 19. Qantas Airways added 3%.
Cleanaway Waste Management rose nearly 16% after the company said it would buy the local recycling and recovery business of French firm Suez for A$2.52 billion.
ECONOMIC NEWS: The Reserve Bank of Australia on Tuesday announced its decision to maintain its policy settings. That included keeping its cash rate at 0.1%, largely in line with expectations, and the return on government bonds for three years.
CURRENCY NEWS: The Australian dollar changed hands at $0.7627 following an earlier high of $0.766.
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