ASX 200 opens higher despite COVID-19 cases growing in NSW and Victoria

Australian shares have risen slightly despite COVID-19 restrictions tightening in Victoria and NSW.

The ASX 200 and All Ordinaries both rose 0.7 per cent by 10:50am AEDT on Monday to 6,629 and 6,900 points respectively.

But the rise is not expected to last as the number of cases of coronavirus linked to Sydney’s Northern Beaches outbreak continues to grow.

Victoria recorded three new locally acquired cases of COVID-19 on Monday after testing sites filled up on the weekend, and residents of Greater Sydney now face $200 fines for not wearing a face masks in indoor venues.

Unsurprisingly, travel stocks dipped at the open with Corporate Travel Management down 3.3 per cent and Flight Centre dropping 2.1 per cent.

Link Administrative Holdings led…