Stock Market – Australian Market Rises, However Halts Buying and selling
(RTTNews) – The Australian stock market rose greater than 1 % on Monday following the positive aspects on Wall Street Friday. Buyers additionally reacted positively to information that Australia has signed onto the 15-nation Regional Complete Financial Partnership or RCEP, the world’s largest free commerce bloc that features East Asian powers China, Japan and South Korea.
Nonetheless, the stock exchange halted buying and selling in late-morning commerce, citing market knowledge points.
The Australian Securities Trade mentioned it has paused fairness market buying and selling whereas it investigates market knowledge points. The stock exchange operator apologized for the disruption and mentioned it’s working to rectify the difficulty as quickly as potential.
The benchmark S&P/ASX 200 Index added 79.10 factors or 1.23 % to six,484.30, off a excessive of 6,487.30 earlier. The broader All Ordinaries Index was up 77.70 factors or 1.18 % to six,687.00. Australian stocks closed barely decrease on Friday.
Among the many main miners, BHP Group rose 2 %, Rio Tinto superior nearly 2 % and Fortescue Metals added nearly 1 %.
Oil stocks had been larger whilst crude oil costs fell on Friday. Oil Search rose nearly three %, Santos superior nearly 2 % and Woodside Petroleum added greater than 1 %.
Among the many massive 4 banks, Commonwealth Bank, Nationwide Australia Bank and Westpac had been larger in a spread of 1.four % to 1.9 %, whereas ANZ Banking gained nearly three %.
In the meantime, gold miners had been blended after gold costs rose Friday. Evolution Mining edged up 0.three %, whereas Newcrest Mining declined 0.1 %.
On Wall Street, stocks closed sharply larger on Friday, partly reflecting a constructive response to earnings information from big-name firms like Cisco and Disney. The markets additionally appeared to profit from information that President Donald Trump’s marketing campaign continued to face setbacks in efforts to overturn the outcomes of the presidential election, eliminating among the lingering uncertainty in regards to the end result. Merchants additionally continued to express optimism a couple of potential coronavirus vaccine whilst new instances within the U.S. spiked to a different new report excessive.
The Dow surged up 399.64 factors or 1.four % to 29,479.81, the Nasdaq jumped 119.70 factors or 1 % to 11,829.29 and the S&P 500 spiked 48.14 factors or 1.four % to three,585.15.
The key European markets turned in a blended efficiency on Friday. Whereas the UK.’s FTSE 100 Index slipped by 0.four %, the German DAX Index and the French CAC 40 Index edged up by 0.2 % and 0.three %, respectively.
Crude oil futures settled sharply decrease on Friday, weighed down by considerations over extra provide and a weak outlook for power demand on account of rising coronavirus instances internationally. WTI crude for December supply slumped $0.99 or about 2.four % to $40.13 a barrel.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
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