Business
ASX rises 0.4pc, but Afterpay, Zip both slide – The Australian Financial Review
The ASX gained on Monday as miners, banks and energy companies carried the market higher, offsetting losses from buy now, pay later darlings Afterpay and Zip.
RBC Capital Markets were even more optimistic, with chief Australian economist Su-Lin Ong lifting her GDP growth forecast to 4.7 per cent for 2021, from 4.2 per cent.
Fourth-quarter GDP surprised us to the upside although the components did not, with particularly encouraging signs of the long awaited pick up in business investment and an emerging upswing in residential construction, she said.
Global growth-sensitive miners led the charge on Monday, with iron ore miners gaining sharply. BHP rose…
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