SYDNEY, AAP – Shares on the ASX200 have crept above 6800 points with miners making the most important contribution to keeping the market positive.
The S&P/ASX200 benchmark index was up 29.4 points, or 0.43 per cent, to 6820.0 at 1200 AEDT on Friday.
Investors have been reluctant to push the index much higher than 6800 points.
The All Ordinaries was higher 31.8 points, or 0.45 per cent, to 7054.4.
The materials sector, which includes miners, was higher by 0.93 per cent.
The top sector was energy, up 1.21 per cent, as oil prices rose from concerns a ship aground in Egypt’s Suez Canal may affect supply.
A salvage company said the vessel may take weeks to free.
In other major sectors, financials was up 0.44 per cent while health was down 0.58 per cent.
US markets closed higher as investors picked up major technology companies which had been widely sold in recent sessions.
President Joe Biden cited as economic progress data showing a declining number of Americans claimed unemployment insurance. Yet investors shrugged as Wall Street traded lower for most of the session.
A late rally helped the Dow Jones Industrial Average close higher 199.42 points, or 0.62 per cent, to 32,619.48, the S&P 500 gained 20.38 points, or 0.52 per cent, to 3,909.52 and the Nasdaq Composite added 15.79 points, or 0.12 per cent, to 12,977.68.
In Australia, a man has tested positive for coronavirus in northern Brisbane and was in the community while infectious for a week.
The state government has ordered a lockdown of the city’s hospitals, aged care facilities, prisons and disability services.
On the ASX, AMP denied media reports chief executive Francesco De Ferrari has resigned but said he and the board are discussing the wealth manager’s future leadership.
The company said there had been no change to Mr De Ferrari’s position and he had not resigned.
Mr De Ferrari and the board were discussing strategy and leadership of the group for the business after its portfolio review, AMP said.
Shares had resumed trading, after being paused on Thursday, and were higher by 2.43 per cent to $1.36.
In technology, TPG founder David Teoh has resigned as chairman and a director of TPG Telecom.
He has been at the helm of the telco for more than 30 years and last year co-ordinated a merger with Vodafone.
Mr Teoh said he wanted to pursue other interests.
His son Shane also resigned from the board.
The board has named Canning Fok as chairman.
Shares were lower 7.56 per cent to $6.35.
Telstra said it will delist from New Zealand’s share market after shareholder numbers on the Kiwi register declined.
People who have Telstra shares on the New Zealand exchange will have them automatically transferred to the Australian one.
The last day of trade for Telstra on the NZX will be June 16.
Shares were up 2.85 per cent to $3.42.
The Australian dollar was buying 75.92 US cents at 1200 AEDT, lower from 75.99 US cents at Thursday’s close.