Australia: Healthcare, tech stocks drive shares to their highest since end-Feb

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[BENGALURU] Australian shares extended their rally to a seventh session on Wednesday, tracking gains in the Wall Street after encouraging vaccine news boosted US indexes to a record high, with domestic healthcare and technology stocks leading the charge. Read more at The Business Times.

Tracking peers in the United States, local healthcare stocks led gains, jumping as much as 2.4 per cent. Shares of Healius rose the most, hitting their highest in over a month.An overnight dip in oil prices on surging infections and lockdown worries dragged the energy index 0.6 per cent lower.Nickel and gold miner IGO went into trading halt before announcing that it would take a 25 per cent stake in Greenbushes lithium mine from China's Tianqi for US$1.4 billion.

Commonwealth Bank of Australia said it would now fetch more from the sale of its stake in a Chinese life insurer to Japan's Mitsui Sumitomo Insurance after China's banking regulator green-lit the deal.In New Zealand, the benchmark climbed up to 1.5 per cent and was set for its best day in a month. Infratil was the top percentage gainer after rejecting a US$3.78 billion buyout offer from AustralianSuper, calling out the bid for undervaluing its renewable energy and digital infrastructure platforms.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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