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Australia Stocks bounce back on U.S. tech rebound

Capital Market 

The Australian share market finished session higher on Thursday, 10 September 2020, with investors applauding an overnight rebound in the U. S. technology issues. Investor sentiment was also brightened by media reports related to novel coronavirus vaccines, including a news report that the suspended trials of a vaccine developed by AstraZeneca PLC may be resumed next week. Also boosting sentiments was reports stated a dip in daily infections in Victoria to double-digits in the recent days and the Federal Health Minister Greg Hunt's urge to lift the state's night curfew, if not imposed on medical grounds.

At closing bell, the benchmark S&P/ASX200 index added 29.89 points, or 0.51%, to 5,908.52.

The broader All Ordinaries rose 31.08 points, or 0.51%, to 6,089.97.

Mining titans BHP and Rio Tinto added 0.5 per cent and 1.4 per cent respectively while the gold producers shone. Newcrest finished up 1.8 per cent after announcing encouraging exploration results in Western Australia and Canada. Gold Road Resources added 6.2 per cent on a similarly positive update.

The banks started well on Thursday but soon fell back and finished the session in the red. NAB led losses for the big four with a 0.7 per cent decline.

CURRENCY NEWS: The Australian dollar changed hands at $0.7269 following an earlier high of $0.7286.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, September 10 2020. 17:32 IST