Market looks on Biden appointment favourably, adding 1.8%

Australia’s S&P/ASX 200 share index added 1.8% today to close just below 6,300 points as it is evident the market has looked upon Biden’s appointment as the next US President favourably. This ultimately meant the ASX was able to hit an 8-month high off the back of the 108.62 point gain for the day.

It was a strong day for Wesfarmers (WES) and Transurban Group (TCL) which both added 2.33% and 2.05% each.

The miners also closed in the green with BHP up 3.49% for the day while Rio Tinto (RIO) finished up 2.88%.

Gainers and Losers

The biggest gainers on Monday were:

  • REA Group +9.1%
  • Nearmap +8.1%
  • Zip Co +7.1%
  • Fortescue Metals +6.4%
  • Mineral Resources +6%

The biggest declines were:

  • Tabcorp -2.9%
  • Healius -2.2%
  • ANZ Bank -1.9%
  • Bingo Industries -1.5%
  • Janus Henderson -1.2%

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This article does not take into account the investment objectives, financial situation or needs of a particular person or entity. Before acting on any investment strategy or advice you should first consult with your current ASIC accredited investment professional or seek out a compliant investment professional for such.