Australian shares rise to 11-month high as reporting season ramps up

The Australian share market has risen for its second day in a row, climbing to its highest level since February 25 last year.

Some of the nation’s biggest companies will announce their results this week, and investors will get a chance to scrutinise the impact COVID-19 has had on their profits.

Commonwealth Bank and Insurance Australia Group are among the big names who will report their earnings (on Wednesday), followed by AMP, Telstra, AGL Energy and Transurban (on Thursday).

By 10:45am AEDT, the benchmark ASX 200 was up (+0.4pc) to 6,869. The broader All Ordinaries index had lifted (+0.5pc) to 7,148 points.

The best performing stocks on Monday were Zip Co (+5.7pc), Afterpay (+3.1pc) and Virgin Money UK (+2.8pc).

Shares in Vocus Group…