Australia: Shares rise as vaccine hopes lift energy, travel stocks

📆 10-11-20 11:22:00
📰 BusinessTimes

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[BENGALURU] Australian shares closed higher for a fourth straight session on Tuesday as progress in the development of a Covid-19 vaccine raised hopes of a swifter recovery in the global economy and bolstered hard-hit travel, tourism and energy stocks. Read more at The Business Times.

Tourism and travel-related stocks such as Flight Centre Travel Group, Sydney Airport Holdings and Qantas Airways rose more than 8 per cent each on the news.

Nearly all stocks on the sub-index were higher, with Oil Search and Beach Energy climbing more than 14 per cent each. National Australia Bank ended 7.6 per cent higher, overtaking Sydney-based rival Westpac Banking as the country's second-largest lender based on market value.

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