ASX lifts 0.84% to resume uptrend
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The news: The Australian sharemarket has resumed its uptrend after breaking a six-day winning streak on Monday. A broad-based commodities rally helped lift the benchmark ASX 200 by 0.84% to 7,489.10 and all 11 sectors finished in the green. The All Ordinaries gained 0.87%.
The numbers: The Australian dollar is slightly stronger against the greenback and is buying 67.2 US cents. Oil prices were mixed, after Yemen's Iran-aligned Houthi militants launched attacks tankers in the Red Sea and Iranian petrol stations were hit by an apparent cyber attack. Brent crude futures rose 0.13%, to USD78.05 a barrel while West Texas crude fell slightly to USD72.40 a barrel.
Recent takeover target Liontown Resources has recovered more than 10% to $1.62, but the lithium play still remains well-short of the $2 level it plunged to when Albemarle abandoned its takeover bid in October.
The context: Yahoo Finance will interview FOMC member Raphael Bostic overnight, and investors will be keen for any monetary policy hints ahead of key US economic data later this week. The Melbourne Institute will publish its monthly Leading Index tomorrow morning, and ANZ will hold its annual general meeting on Thursday.
