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The Australian sharemarket is lifting for a second day, with the ASX 200 up 0.35 per cent to 6,813.5. While gains in recent days go some way in recouping the last three weeks’ worth of losses, the ASX 200 has faded from this morning’s highs.

The US sharemarket rose by 2.4 per cent (S&P500), making it the equity market’s best one-day rally since June 2020 as bond yields stabilised. Markets have been unsettled in recent weeks partly on aggressive moves in the bond market.

With the exception of energy, property stocks, gold miners and utilities, all other sectors are improving at lunch. Tech stocks are standing out, gaining more than 1 per cent after declining by 7.1 per cent last week.

Mesoblast (MSB) has raised US$110m at A$2.30 per share in a private placement led by a US investor group. MSB – a Melbourne based biopharmaceutical company – said it intends to use the proceeds to ‘provide financial strength for operational and regulatory initiatives’, ‘investment in commercial supply of remestemcel-L’ and ‘advancing manufacturing and development of [its] rexlemestrocel-L platform to meet commercial objectives for chronic heart failure and chronic low back pain due to degenerative disc disease.’

Ansell (ANN) is up 1.5 per cent and announced its intention to potentially restart its share buyback program this Friday. Thanks to rising demand for personal protective equipment during the pandemic, ANN recently handed down a 22.9 per cent lift in sales and 61.3 per cent gain in profit for the half.

Aristocrat Leisure (ALL) has settled two US lawsuits for US$31m, which related to the online social gaming platforms Big Fish Casino, Jackpot Magic Slots and Epic Diamond Slots, offered by Big Fish Games. ALL shares are up 0.6 per cent.

The Reserve Bank is set to hold its monthly meeting today, with the market expecting no change in its policy settings. Any comments relating to the recent bond market moves will receive attention.

3.4bn shares have changed hands so far worth $2.8bn. 735 stocks are up, 561 down and 359 are unchanged.

Published by CommSec