March 7, 2021

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Aussie shares lift despite uncertainty on Wall Street

2 min read
<p>The Australian sharemarket is rebounding from yesterday's losses, lifting sharply upon opening trade.</p>

The Australian share market is rebounding from yesterday's losses, lifting sharply upon opening trade.

At 10:30 AEDT the benchmark S&P/ASX 200 was up 17.9 points or 0.27 percent to 6,715.40 points.

The market has not been at this level since before Christmas.

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Early movers included medical manufacturing company Mesoblast (up 6.06 per cent), Super Retail Group (up 5.70 per cent) and 4x4 accessories company ARB (up 5.25 per cent).

Today's open did not bode well for medical device company Polynovo (down 8.26 per cent) and financial software firm Xero (down 3.74 per cent).

The Aussie dollar is currently buying 77 US cents, retreating slightly from the 78 US cent highs seen last week.

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Overnight, all three of the US indices finished in the red as uncertainty over the stability of the country's presidential election continues.

Shares in social media giant Twitter fell after it announced late on Friday it had permanently banned President Trump from posting.

In early trade Twitter lost almost 10 per cent of its value before a midday rally saw it eventually close down six per cent.

Despite the drop, Twitter's shares are still up around 45 per cent over the previous 12 months.

- Additional reporting by CNN

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Source: 9News

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