ASX rebounds as Santa’s rally finally gets started

December 21, 2021 - 5 months ago
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After many disappointing rebounds, today’s advance brings hope for Santa’s rally as the Australian share market breaks out of a four-day bear trend and logs its biggest gain in almost two weeks.

The Santa Rally describes the strong trading period in the two weeks before Christmas till early January.

Ten of eleven sectors rose, as the benchmark S&P/ASX 200 index ended to strong gains and rising +62.8 points, or +0.86% to 7,355.0, while the All Ordinaries added +64.5 points, or +0.85%, to 7,666.7, while our local currency, the Australian dollar, is currently buying US$0.7133.

Healthcare and energy stocks led, with support from the major banks.

According to news sources, over the last 41 years, the Santa Rally has visited ASX shares 35 times.

Meanwhile, airlines also rebounded despite NSW reporting a record daily infection tally, as Prime Minister Scott Morrison said his government would not impose lockdowns on Australians.

Qantas Airways rose +0.8%, to $4.82, Flight Centre Travel Group added +3.9%, to $17.10, Webjet gained +3.2%, to $5.20.

BHP Group rose +1.5%, to $41.71, and Rio Tinto +3.2%, to $101.40 and Fortescue Metals Group Ltd added +1.7% to $19.79.

In Financials, Commonwealth Bank gained +0.4%, to $99.59, ANZ Banking Group added +0.3%, to $27.32, National Australia Bank firmed +0.7%, to $28.72 and Westpac eked out a +0.2% gains to $21.05.

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