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Aussie share market kicks off 2021 with broad gains

SYDNEY
2021-01-04 08:21

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SYDNEY, Jan. 4 (Xinhua) -- The Australian share market opened firmly higher on Monday with all sectors improving to start the first trading day of the year.

At 10:30 (AEST), the benchmark S&P/ASX 200 index was up 55.60 points or 0.84 percent at 6,642.70, while the broader All Ordinaries index was up 60.40 points or 0.88 percent at 6,911.00.

Consumer stocks posted strong gains with the country's largest supermarkets both firmly improved. The country's largest city of Sydney has so far avoided a blanket lockdown as a recent COVID-19 outbreak appeared to be under control.

Most other sectors including financials and utilities were also firmly improved as were tech and healthcare.

Meanwhile oil companies weighed on the energy sector as the commodity price remained volatile in response to the COVID-19 pandemic and effect on global travel.

In the financial space, the big banks lifted with Commonwealth Bank up (1.12 percent), ANZ up (0.75 percent), National Australia Bank up (0.84 percent) and Westpac Bank up (0.65 percent).

Mining stocks rallied with Rio Tinto up (0.90 percent), Fortescue Metals up (2.60 percent), BHP up (0.45 percent) and goldminer Newcrest up (2.06 percent).

The country's oil and gas producers varied with Oil Search down (1.08 percent), Santos up (0.64 percent) and Woodside Petroleum down (0.40 percent).

Australia's largest supermarkets rallied with Coles up (1.32 percent), and Woolworths up (1.68 percent).

Meanwhile telecommunications giant Telstra bounced (0.50 percent), the national carrier Qantas lost altitude (0.21 percent) and biomedical firm CSL lifted (0.40 percent).
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