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ASX finishes 2.3% higher

Anastasia Santoreneos
·2-min read
The ASX has opened slightly higher. Source: Getty
The ASX has opened slightly higher. Source: Getty

UPDATE 4.30PM: ASX finishes 2.3% higher

The ASX200 has closed 2.3 per cent higher, while the All Ords finished 2.58 per cent higher.

The Aussie dollar was buying 58.28 US cents, down from 60.33 US cents at market close on Wednesday.

UPDATE 12PM: Stocks up 1.01%

The ASX200 is up 1.01 per cent at 12pm AEDT, with the broader All Ords up 1.28 per cent.

The big supermarkets were mixed with Coles down 1 cent to $16.65 and Woolworths up 15 cents to $36.57.

Gold miners were also mixed, with Newcrest up 66 cents at $26.55 even as Northern Star fell $1.29 to $12.21 and Evolution Mining sank 12.5 cents to $4.26.

Financial stocks were higher, as CBA gained 0.48 per cent to $62.67, ANZ added 18 cents to $16.76, Westpac rose 15 cents to $16.00 and NAB took on 26 cents to $16.05.

What happened this morning?

The ASX has opened 1.22 per cent higher, despite the announcement of a massive US stimulus deal which initially sent global markets soaring.

The broader All Ordinaries was up slightly more, 1.36 per cent, at 10.53 AEDT, with all sectors higher except telcos and consumer staples.

It follows US politicians reaching a deal on a AU$3.3 trillion stimulus measure to help the world’s biggest economy, which saw global stock market sentiment improve.

The announcement was enough to see the Aussie dollar rise, now buying 59.59 US cents at 0800 AEDT today.

What happened in the US?

While the announcement of the stimulus deal initially saw the Dow add 1,315 points, US stocks ended the session relatively flat, as investors waited for Congress to pass the stimulus package.

The S&P 500 ended the session up just 0.06 per cent, while the Nasdaq ended up 0.11 per cent.

Boeing surged 24 per cent, bringing its gain over the past three sessions to almost 70 per cent as investors bet on government support for the aerospace industry as well as airlines.

American Airlines Group, United Airlines Holding and Delta Air Lines each jumped more than 10 per cent.

It was the first time since February 12 that S&P 500 climbed two days in a row.

With AAP.

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