The Australian share market finished session at fresh 11-month high on Monday, 25 January 2021, as investor sentiment received a boost following news that the Pfizer/BioNTech COVID-19 vaccine has been approved for use in Australia, with the phased vaccine rollout set to commence in late February.
At closing bell, the benchmark S&P/ASX200 advanced 24.35 points, or 0.36%, to 6,824.71. The broader All Ordinaries added 32.45 points, or 0.46%, to 7,111.39. Australian share market will be close tomorrow for Australia Day public holiday.
Investor sentiment received a boost following news that the Pfizer/BioNTech COVID-19 vaccine has been approved for use in Australia, with the phased vaccine rollout set to commence in late February.
With the exception of energy stocks, gold miners and travels stocks within the industrial sector, all other areas of the market finished higher. Travel stocks underperformed, with both Webjet (WEB) and Flight Centre (FLT) slumping by 3%. These stocks lost ground despite no new COVID cases across most of the country and the Pfizer vaccine receiving a nod of approval for distribution in Australia starting next month.
Ampol (ALD) was the worst performer on the ASX 200, slipping by 4.9% after completing its $300m off-market share-buyback at a discounted price.
Lynas (LYC) slumped by 3.2% a day after surging close to 14%. The rare earths miner on Friday said it had reached a deal with the US Department of Defence to build a facility in Texas.
CURRENCY NEWS: The Australian dollar changed hands at $0.773, off levels above $0.776 seen last week.
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