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US stocks rallied overnight and the Dow breached the 30,000 level for the first time, as investors anticipated a 2021 economic recovery, coronavirus vaccine progress and the formal clearance for President-elect Joe Bidens transition to the White House.MORE >
ASX investors can almost claim gains for 2020, after the share market closed within a point of where it started the year.
Wednesday, 25th November, 2020
The ASX200 benchmark index closed higher by 39.2 points, or 0.59 percent, to 6683.3 on Wednesday. The All Ordinaries on Wednesday closed up 32.7 points, or 0.48 percent, to 6888.2.
Investors flocked to energy stocks (up 2.77 percent) and financials (up 1.88 percent) as optimism continued from promising test results of coronavirus vaccines by AstraZeneca and Oxford University. US President Trump's apparent willingness to comply with the formal transfer of power has helped investor sentiment.
On the ASX, Origin Energy was one of the big firms benefiting from the rise in oil prices. Shares rose 3.96 percent to $5.25. Harvey Norman has boosted Australian sales revenue by 30 percent since July 1. However, management remains cautious about the outlook due to the pandemic. Shares were down 2.55 percent to $4.58. Clothing multinational Kathmandu revealed a 24.1 percent decline in retail sales so far this financial year as coronavirus restrictions lingered in Australia and overseas. Shares were down 4.18 percent to $1.26.
Gold, typically viewed as a safe bet by investors, was unpopular among the buoyant mood. Gold miner Evolution lost 2.2 percent to $4.88. In other mining, BHP gained 3.03 percent to $39.46, Rio Tinto climbed 1.12 percent to $104.28 and Fortescue rose 2.82 per cent to $18.60. NAB was best of the big four banks, up 3.09 percent to $24.05.
The Aussie dollar was buying 73.36 US cents at 1717 AEDT, higher from 73.14 US cents at Tuesday's close.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7330||-0.0032||-0.43|
|$A vs GBP||0.5494||
|$A vs EUR||
|$A vs YEN||76.64||-0.34||-0.44|
|$A vs $NZ||