Australia Stocks snap 3-day losing streak

The Australian share market finished higher for the first time in four straight sessions on Monday, 01 February 2021, as investors chased for bargain hunting on following recent losses. However, market gains capped due to disappointing monthly updates on China's manufacturing sector and a five-day lockdown in Perth.

At closing bell, the benchmark S&P/ASX200 advanced 56.61 points, or 0.84%, to 6,662.96. The broader All Ordinaries added 51.90 points, or 0.96%, to 6,922.77.

The biggest decline on the ASX was a 10.9% fall in Worley Ltd to $10.18 due to delayed projects, and a 4.7% fall in Service Stream. The biggest gains were enjoyed by Blackmores, up 8.9%, and Mesoblast, up 5.6%.

 

Travel stocks finished mixed after Perth announced a five-day lockdown yesterday after a hotel quarantine security guard returned a positive COVID19 test, with Flight Centre (FLT) down 2.6%, Webjet (WEB) dropping 1.9% and Sydney Airport (SYD) closing flat. While Qantas (QAN) edged higher by 0.44%, it slumped by 7% last week.

Supermarket chains Woolworths (WOW) and Coles (COL) introduced buying limits in WA due to some panic buying. Crown (CWN) slipped 0.2% and said it will close gaming facilities at its Perth casino for five days due to the lockdown. Northern Star (NST) and Saracen (SAR) both said

CURRENCY NEWS: The Australian dollar changed hands at $0.765, having slipped from levels above $0.768 last week.

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