The Australian share market booked a strong round of gains and climbed to a four-month high on Wednesday, extending its gains for the fifth day as all sectors ended in positive territory.
The benchmark S&P/ASX 200 index rose +89.5 points, or +1.21% to 7,509.8, while the All Ordinaries added +95.6 points, or +1.23%, to 7,840.3, while our local currency, the Australian dollar, is currently buying US$0.7216.
The ASX took its cue from stronger Wall Street as trading returned on Wednesday after the Christmas break.
U.S. stock benchmarks on Wall Street posted their best five-day bullish streak since early November as investors looked past the record COVID infection rates and extended their annual “Santa Clause” rally to fresh highs before a mixed finish.
The local big banks, lithium miners, and retail behemoths Woolworths and Wesfarmers all booked strong gains.
Commonwealth Bank rose +1.3%, to $101.90, while Westpac added +1.2% to $21.46, NAB gained +1.3%, to $29.25, and ANZ advanced +1.5%, to $27.88.
Macquarie Group was booked strong gains and finished +1.5%, at $207.21.
Miners’ titans, BHP ended flat at $41.33, while Rio Tinto slipped -0.3%, to $98.80, although Fortescue Metals edged higher and posted a +0.2% gain and closed at $19.28.
Coles added +1.5%, to $17.95 while supermarket rivals Woolworths climbed +2.1% to $38.51 and Endeavour gained +2.2%, to $6.92.