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Market Update: Australian Shares Gain
The ASX 200 gained 17.40 points or 0.25% to 7109.90 Thursday, following losses of 0.32% in the previous session as investors proved optimistic amid easing local long term bond yields and a strong performance from the mining. On the coronavirus front, Victoria is set to go into a 7 day lockdown after the state recorded 12 new cases over the past 24-hours. Local 10-year bond yields eased to fresh 3-month lows 1.599% while US 10-year yields were at 1.574%. Among stocks, miners BHP and Rio Tinto added 1.5%, and Fortescue Metals leapt 3.5%. Costa Group Holdings fell 22.97% to a 7-month low after reporting a mixed result for domestic operations so far this year. On the data front, total new capital expenditure rose by 6.3% on-quarter in the three months to March, the largest increase in almost a decade. [/s2If]
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