Australia shares end 4% firmer as investors upbeat on easing virus cases [Reuters]
Westpac Banking Corporation (WBK)
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Source: Reuters
Australia shares end 4% firmer as investors upbeat on easing virus cases * Energy stocks end 6% higher * “Big Four” banks end in positive territory * NZ closes lower (Updates to close) By Nikhil Subba April 6 (Reuters) - Energy and healthcare sectors aided Australian shares to settle 4% firmer on Monday, as coronavirus infections in key countries appeared to slow down, lifting investor appetite for risky bets. The S&P/ASX 200 index was up 4.3% at 5,286.80 at the close of trade, after the benchmark closed 1.7% down on Friday. Market sentiment improved after U.S. President Donald Trump expressed hope the country was seeing a “levelling off” of the coronavirus crisis. This led U.S. stock futures to rise during Asian trading. “The improved sentiment in global markets is on signs that the rate of growth in new COVID-19 cases in several key places is slowing down. Most pertinently, I think the fall in new cases in New York, Spain and Italy,” said Kyle Rodda, a market analyst at IG Markets.
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