Aussie share market surges with broad gains

SYDNEY, Nov. 24 (Xinhua) -- The Australian share market finished firmly higher on Tuesday as investors were buoyed by more positive COVID-19 vaccine news and further re-opening of domestic borders. At the market close the benchmark S&P/ASX 200 index was up 82.50 points or 1.26 percent at 6,644.10, while the broader All Ordinaries index was up 83.50 points or 1.23 percent at 6,855.50.

Vaccine hopes and the reopening of domestic borders helped pave the way for further gains, said CommSec market analyst Steven Daghlian.

British company Astrazeneca with partner Oxford University became the third vaccine maker this month to show better than expected efficacy in trials, revealing its vaccine has an average efficacy of 70 percent.

The Australian state of Queensland's decision to fully reopen to the neighboring state of New South Wales from Dec. 1 provided an additional boost. All sectors finished higher on the local bourse, with energy stocks leading gains, surging 3.50 percent as oil prices rose on vaccine hopes. In the financial space, the big banks surged with Commonwealth Bank up (1.96 percent), National Australia Bank up (2.60 percent), Westpac Bank up (2.61 percent) and ANZ up (3.10 percent). Mining stocks were mostly higher with BHP up (3.37 percent), Rio Tinto up (2.22 percent), and Fortescue Metals up (2.73 percent) , however, gold miner Newcrest was down (6.11 percent). The country's oil and gas producers soared with Oil Search up (2.43 percent), Santos up (3.92 percent) and Woodside Petroleum up (2.96 percent).

Australia's largest supermarkets lifted with Coles up (0.45 percent), and Woolworths up (0.08 percent). Meanwhile telecommunications giant Telstra surged (1.30 percent), the national carrier Qantas soared (3.92 percent) and biomedical firm CSL improved (0.60 percent).