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Australian Stocks Set First Record High Since Pandemic Began

Provided by Dow Jones By Stuart Condie SYDNEY Australia s recovery from the coronavirus pandemic has passed another milestone with its benchmark share index closing at a record high, its first in 15 months. The S&P/ ASX 200 index lifted 1.3% to 7172.8 on Monday after another rise in iron-ore prices drove demand for shares in miners including BHP Group Ltd. and Rio Tinto PLC. The index beat its previous record of 7162.5 set on February 20, 2020, and continued a comeback that began on March 24 last year when the index had languished below 4550. For investors, it hasn t been a smooth ride. Early in the pandemic, Australia s economy was exposed to a rapid slowing in global demand that threatened its exports of industrial commodities such as iron ore and coal. Investors had to navigate trade tensions with China, which followed Australian Prime Minister Scott Morrison s call for an international investigation into the origins of Covid-19, and the i

These were the best performing ASX 200 shares in April

These were the best performers on the ASX 200 last week

After a solid start to the week, the S&P/ASX 200 Index (ASX: XJO) gave back its gains and finished the period ever so slightly lower. The benchmark index lost 2.8 points over the five days to finish it at 7,060.7 points. That didn’t stop some shares from recording very strong gains over the week. Here’s why these were the best performing ASX 200 shares: The Megaport share price was the best performer on the ASX 200 last week with a gain of 10.5%. The catalyst for this was the release of the elastic interconnection services provider’s third quarter update. Megaport reported monthly recurring revenue (MRR) of $6.8 million for the three months ended 31 March. This represents a lift of $0.5 million or 8% quarter-on-quarter and was driven by an increase in its footprint, ports, and customer numbers. UBS was happy with the update and retained its buy rating and lifted its price target to $17.10.

Wednesday s analyst upgrades and downgrades - The Globe and Mail

Wednesday s analyst upgrades and downgrades - The Globe and Mail
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.

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