The benchmark S&P/ASX200 (^AXJO) has closed 0.38 per cent. higher to 6,033.60 points, despite NSW extending Covid-19 restrictions and Victoria recording 428 new infections.
The broader All Ordinaries index (^AORD) also finished 0.36 per cent higher to 6,144.90 points.
What happened this afternoon?
The benchmark S&P/ASX200 (^AXJO) has pared back gains to. 6,012.10 points at midday and is now trading flat, after opening higher this morning.
The broader All Ordinaries index (^AORD) has followed a similar path, down to 6,120.20 points and trading flat.
What happened this morning?
The benchmark S&P/ASX200 (^AXJO) has opened 0.31 per cent higher to 6,029.6 points at 10:24 AEST, despite US markets finishing lower on rising unemployment claims and Covid-19 infections.
The broader All Ordinaries index (^AORD) also opened 0.31 per cent up to 6,141.9 points at 10:25 AEST, as investors await further news of virus infections in Australia.
Telecommunications was the best performing sector, higher by 0.62 per cent, followed by materials, up 0.6 per cent. The energy and financials sectors were in negative territory, down 0.47 and 0.06 per cent respectively.
New South Wales health authorities are attempting to trace those affected by a virus outbreak in Sydney’s south-west, while Melbourne recorded Australia’s biggest daily increase in cases on Thursday.
One Australian dollar was buying 69.80 US cents at 10:15 AEST, down from 69.92 US cents at Thursday’s close.
What happened overnight?
Wall Street finished lower as investors were weighed down by concerns about the economic impact from the resurgence of virus cases.
It follows news that 32 million people in the US are on unemployment benefits as several states shut down again.
The Dow Jones Industrial Average fell 0.5 per cent to end at 26,734.71 points, while the S&P 500 lost 0.34 per cent to 3,215.57 and the Nasdaq Composite dropped 0.73 per cent, to 10,473.83. The S&P 500 is about 5.0 per cent below its February record high.
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