Shares rise after US markets end higher – Yahoo Finance Australia

Australian shares are trading 0.8 per cent higher after a strong lead from US markets on increasing hopes of an economic recovery.
The S&P/ASX200 benchmark index was higher by 47.2 points, or 0.8 per cent, at 5967.5 points at 1200 AEST on Thursday.
The index has stayed below 6000 points – which fund managers view as a key level of market strength.
While the index has risen above 6000 points in recent weeks, it has quickly fallen below it.
The All Ordinaries index was 51.2 points, or 0.85 per cent higher, at 6085.5.
The materials sector led the charge, up 1.52 per cent.
The information technology sector soared 2.8 per cent, helped by Afterpay, which rose 8.36 per cent to $71.52.
Rival buy now, pay later venture Splitit was also doing well, higher by 6.08 per cent to $1.57.
Energy was next best sector , up by 1.9 per cent, after world oil prices rose overnight.
Santos and Woodside were both up by more than 2.0 per cent to $5.23 and $21.44 respectively.
Miners were having a good day. BHP was higher by 2.15 per cent to $36.52, Rio gained 3.12 per cent to $98.52 and Fortescue rose 1.09 per cent to $14.83.
Rio’s gain came after the miner said its aluminium smelter on New Zealand’s South Island would close in August next year, as it was unviable.
Gold miners did well, too. Newcrest rose 2.02 per cent to $33.79, Northern Star edged higher by 1.68 per cent to $15.09 and Evolution was up 4.37 per cent to $6.32.
The big four banks, as well as Macquarie and Bendigo, were all higher by less than 1.0 per cent.
Treasury Wine Estates slipped 2.93 per cent to $10.95 after full-year earnings before interest, tax and the agricultural accounting standard SGARA dropped 21 per cent to between $530 million and $540 million.
Meanwhile, Melburnians have begun their first day of stay-at-home lockdown for six weeks in a bid to contain a second wave of coronavirus cases in the state.
In the US overnight, a surge in technology shares more than offset concerns from a surge in coronavirus cases.
The Dow Jones Industrial Average rose 0.68 per cent, the S&P 500 gained 0.78 per cent and the Nasdaq Composite added 1.44 per cent.
The Australian dollar was buying 69.78 US cents at 1200 AEST, up from 69.34 US cents at the close of trade on Wednesday.

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