Australian government issues grants to support vanadium and lithium battery materials processing energy-storage.news - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energy-storage.news Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
July 21 (Reuters) - Australian shares climbed more than 1% on Wednesday, led by miners and banks, after Wall Street bounced back on upbeat earnings reports and renewed optimism about economic growth.
The S&P/ASX 200 index was up 1.12% at 7,333.6, as of 0025 GMT, after two straight sessions of falls. Earlier in the day, it gained 1.2% in its biggest intraday jump in four weeks.
Overnight, all three major U.S. stock indexes closed higher, rebounding from a multi-day losing streak after a string of upbeat earnings and revived economic growth optimism even as worries about a resurgence in COVID-19 cases remained.
Australia Market gains after consumer confidence data business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
By MichaelGable
Resource stocks continue to look good here. We ve made reference over the last few weeks to Fortescue Metals ((FMG)), Lynas Rare Earths and IGO as being opportunities. In today s report we have an updated chart on Fortescue to show why it is once again a buying opportunity.
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10:27 AM
Gains for the technology sector spurred a 2.3% rise for the ASX200 in June, the eleventh month of gains for a financial year that returned 27.8%.
-The ASX200 climbed 2.3% during June and the FY21 total return was 27.8%
-In June Technology was the best sector while Financials dragged
-Over FY21 Consumer Discretionary was strongest as Value outpaced Growth
-The average return for the major banks was 52% in FY21
-FY21 commodity prices jumped on average 55%
-Stock and sector picks for the new financial year
By Mark Woodruff
Australian stocks rose 2.3% in June, lifting the ASX200 total return in FY21 to 27.8%, the strongest increase since the 28.7% return in 2006.