ASX ends March quarter with a gain

The Australian sharemarket rose firmly on Wednesday in the final session of the quarter, buoyed by strong gains from the big banks and miners.

The S&P/ASX 200 Index advanced 52.3 points, or 0.8 per cent, to 6790.7, rising as much as 1.8 per cent during the middle of the session.

The climb capped off a quarter of two halves for the local sharemarket, with a strong January and early February partly undone in the latter half of the quarter by a rise in global bond yields.

The S&P/ASX 200 Index still closed the quarter 3.1 per cent higher.

“After last year’s false start, the prospects for a sustained reopening of economies through the second half of 2021 appear promising,” said Andrew Pease, Russell Investments head of global investment strategy.

Source: Financial Review newsfeed, 31 March 2021