Australian Market Extends Gains

(RTTNews) - The Australian stock market is extending gains on Tuesday from the previous session amid optimism about a recovery in global economic growth as lockdown restrictions are eased in the country and other parts of the world such as Japan and Spain.

News that U.S. biotech firm Novavax has commenced the first human trial of its experimental coronavirus vaccine also boosted sentiment.

The benchmark S&P/ASX 200 Index is adding 45.80 points or 0.82 percent to 5,661.40, after touching a high of 5,668.70 earlier. The broader All Ordinaries Index is advancing 46.50 points or 0.81 percent to 5,776.40. Australian markets closed sharply higher on Monday.

In the oil sector, Woodside Petroleum is gaining almost 3 percent, while Oil Search and Santos are rising almost 2 percent each.

In the banking space, National Australia Bank, ANZ Banking and Westpac are higher in a range of 1.5 percent to 1.8 percent, while Commonwealth Bank is adding almost 1 percent.
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