ASX rallies 1.7pct on strong US earnings 20 July 2022

Disclosure Statement: Durand Financial Services Pty Ltd and its advisers are authorised representatives of Fortnum Private Wealth Ltd ABN 54 139 889 535 AFSL 357306. General Advice Warning: The information contained within this website does not consider your personal circumstances and is of a general nature only. You should not act on it without first obtaining professional financial advice specific to your circumstances.

The Australian share market has rallied for a second time this week on the back of a strong lead from Wall Street, as several leading US corporations reported better-than-expected earnings.

The benchmark S&P/ASX200 index on Wednesday gained 109.6 points to finish at a three-week closing high of 6,759.2, a gain of 1.65 per cent.

The broader All Ordinaries climbed 122.2 points, or 1.78 per cent, to 6,975.2.

The Aussie dollar meanwhile had risen against its US counterpart, buying 69.11 US cents, from 68.60 US cents at Tuesday’s close.

It didn’t react as Reserve Bank of Australia governor Philip Lowe gave a hawkish speech on Wednesday morning.

Derek Rose
(Australian Associated Press)

 

0

Like This