Australian shares rebounded on Monday following last week’s Wall St-led sell off, with 10 of 11 industry sectors lifting the market ahead of crucial sales and inflation data. The benchmark ASX 200 rose 60.7 points, or 0.
79 per cent, to hit 7,788.3 points, while the broader All Ordinaries index lifted 59.4 points, or 0.
74 per cent, to close at 8,058.6. Tech stocks lifted 12.
2 points, or 0.4 per cent, to finish at 3,076 points. The rebound was broadbased, with 10 of 11 industry sectors ending in the green, led by real estate with a 1.
8 per cent jump. Journalism for the curious Australian across politics, business, culture and opinion. Lendlease propelled the sector with a near 8 per cent advance to $6.
36 a share following the announcement of a new strategy for the $4.4bn giant. The company promised investors it would simplify its organisational structure and right size its cost base.
Financials lifted 0.84 per cent, with the big four banks rising higher on the back of an outlook upgrade from global ratings agency Fitch. Commonwealth Bank rose 1.
03 per cent to $120.1, Westpac edged up 0.72 per cent to $26.
75, NAB rose 0.8 per cent to $34.23 while ANZ climbed 1.
14 per cent to $28.43. EightCap market analyst Zoran Kresovic said Monday’s rebound had flowed in part from the “astonishing” results delivered by American chip giant Nvidia and a broader rally in US tech.
“The market has somewhat rebounded this morning on the basis we had some astonishing results from Nvidia and.
