AGL 38.48 Decreased By ▼ -0.08 (-0.21%)
AIRLINK 203.02 Decreased By ▼ -4.75 (-2.29%)
BOP 10.17 Increased By ▲ 0.11 (1.09%)
CNERGY 6.54 Decreased By ▼ -0.54 (-7.63%)
DCL 9.58 Decreased By ▼ -0.41 (-4.1%)
DFML 40.02 Decreased By ▼ -1.12 (-2.72%)
DGKC 98.08 Decreased By ▼ -5.38 (-5.2%)
FCCL 34.96 Decreased By ▼ -1.39 (-3.82%)
FFBL 86.43 Decreased By ▼ -5.16 (-5.63%)
FFL 13.90 Decreased By ▼ -0.70 (-4.79%)
HUBC 131.57 Decreased By ▼ -7.86 (-5.64%)
HUMNL 14.02 Decreased By ▼ -0.08 (-0.57%)
KEL 5.61 Decreased By ▼ -0.36 (-6.03%)
KOSM 7.27 Decreased By ▼ -0.59 (-7.51%)
MLCF 45.59 Decreased By ▼ -1.69 (-3.57%)
NBP 66.38 Decreased By ▼ -7.38 (-10.01%)
OGDC 220.76 Decreased By ▼ -1.90 (-0.85%)
PAEL 38.48 Increased By ▲ 0.37 (0.97%)
PIBTL 8.91 Decreased By ▼ -0.36 (-3.88%)
PPL 197.88 Decreased By ▼ -7.97 (-3.87%)
PRL 39.03 Decreased By ▼ -0.82 (-2.06%)
PTC 25.47 Decreased By ▼ -1.15 (-4.32%)
SEARL 103.05 Decreased By ▼ -7.19 (-6.52%)
TELE 9.02 Decreased By ▼ -0.21 (-2.28%)
TOMCL 36.41 Decreased By ▼ -1.80 (-4.71%)
TPLP 13.75 Decreased By ▼ -0.02 (-0.15%)
TREET 25.12 Decreased By ▼ -1.33 (-5.03%)
TRG 58.04 Decreased By ▼ -2.50 (-4.13%)
UNITY 33.67 Decreased By ▼ -0.47 (-1.38%)
WTL 1.71 Decreased By ▼ -0.17 (-9.04%)
BR100 11,890 Decreased By -408.8 (-3.32%)
BR30 37,357 Decreased By -1520.9 (-3.91%)
KSE100 111,070 Decreased By -3790.4 (-3.3%)
KSE30 34,909 Decreased By -1287 (-3.56%)
Markets

Australian shares hit record high on Afterpay boost; NZ rises

  • Financial stocks rose 1.% led by Zip Co Ltd , up 7.98%, followed by Magellan Financial Group Ltd , gaining 2.54%
Published August 2, 2021

Australian shares touched a record high on Monday as Afterpay Ltd jumped after US-based Square Inc agreed to buy the buy now, pay later firm for $29 billion, with the tech index being on track for its best day in nearly a decade.

The S&P/ASX 200 index rose as much as 1.3% to 7,488.4 points. It was up 1.27% at 7,486.7 by 0118 GMT.

The benchmark index was helped by a 9% jump in tech stocks , setting them for their best session since November 2011.

Australia shares slump nearly 1.5% as lockdowns dampen recovery bets

Leading the gains on both the tech sub-index and ASX 200, Afterpay surged up to 29.3% to A$125 - its best day since May 2020 - as investors cheered Square's buyout of the company.

That lifted other BNPL firms Zip Co, up as much as 13.7% and the second-biggest gainer, and Sezzle that climbed up to 6.5%.

Energy firm Oil Search intended to recommend a sweetened buyout offer worth A$8.4 ($6.2 billion) from Australia's second-largest independent gas producer Santos Ltd.

Oil Search was among the top gainers on the benchmark index, surging 8.7% to A$4.14 and lifting the energy index by 2.1%. Oil Search and Santos were its top two gainers.

The mining index, however, was an outlier as it lost 0.6% on weak metal prices.

BHP Group, Rio Tinto, and Fortescue Metals were all down between 3.4% and 1.1%.

Financial stocks rose 1.% led by Zip Co Ltd , up 7.98%, followed by Magellan Financial Group Ltd , gaining 2.54%.

The ASX All Ordinaries Gold index rose 2.5%, led by Ora Banda Mining Ltd, up 7.41%, followed by Ramelius Resources Ltd, gaining 6.16?%.

In New Zealand, the benchmark S&P/NZX 50 index rose 0.5% to 12,651.1.

Comments

Comments are closed.