Australian shares enjoyed a good trading session, closing Thursday with decent gains despite the threat of Victoria’s lockdown dragging down the economy.
Afterpay, after Wednesday’s trading halt was lifted, had a massive Thursday. Its shares gained 11.56 per cent at market close, on the way breaking its record price multiple times.
The company’s stock sat at $73.50 at the close of trade – a remarkable result for the buy-now-pay-later provider, which was at $8.90 in March when the market was gripped by the coronavirus panic.
What happened at lunchtime?
Australian stocks are well up at lunchtime Thursday, as a second lockdown in Melbourne does little to deter investors.
Market darling Afterpay is going gangbusters once again, reaching $72.33 a share in morning trade and gaining more than 9 per cent by midday.
The buy-now-pay-later provider’s stock price was just $8.90 in March in the midst of the coronavirus sell-off.
What happened this morning?
The Australian share market headed up in early trade on Thursday, following an overnight jump on Wall Street.
The local market on Thursday will be looking out for housing, personal and business loans data for May as an indicator of how the economy is going.
The financial impact of Melbourne's second Covid-19 lockdown, which has just started, will also be of interest to Australian stock investors.
What happened overnight?
All three major US stock indices closed overnight higher, despite horrific coronavirus numbers in that country.
One out of every 100 Americans have now caught the coronavirus, but investors seem to have looked past that and focused instead on a rebound in new jobs and the services sector.
Tech shares like Amazon, Apple and Microsoft led the way, with the NASDAQ finishing 1.44 per cent higher.
Dow Jones Industrial was up 0.68 per cent and the S&P500 climbed 0.78 per cent.
The overnight performance on Wall St sent Australia's SPI200 futures up 0.85 per cent at 8am AEST Thursday.
– with AAP