Overseas turbulence gives the ASX another bumpy ride

December 2, 2021 - 2 months ago
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The Australian sharemarket followed Wall Street’s down the ‘bearish’ bumpy road after the first case of the Omicron COVID-19 variant was confirmed in the United States.

At the closing bell, the benchmark S&P/ASX 200 index lost -10.7 points, or -0.15%, to 7,225.2, while the All Ordinaries fell -21.7 points, or -0.29%, to 7,557.8, while our local currency, the Australian dollar, is currently buying US$0.7108.

All three major U.S. indexes finished lower after the Centres for Disease Control and Prevention (CDC) confirmed the first known case of the Omicron COVID-19 variant had been identified in California, while in South Africa, the variant had nearly doubled in cases.

Back home, Worley surged +6.1%, to $10.08 after Morgan Stanley upgraded the company to “overweight” and increased its price target to $12 from $11, while Transurban jumped +2%, to $13.78.

In Financials. The ‘Fab Four’ (major) banks were mixed; Commonwealth Bank climbed +2.2%, to $95.90, National Australia Bank added +0.8%, to $27.60, ANZ rose +0.2%, to $26.69, however, Westpac settled lower at -0.8%, at $20.46.

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