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The Aussie share market advanced for the fourth straight day yesterday, up as much as 1.7%, before pulling back and closing a modest 1.3% higher.
All sectors posted gains, with the consumer services, information technology and materials sectors leading the way, all up 2%. The banks performed well, with NAB up 1%, the most out of the major four banks.
Zip (ASX:Z1P) was the best performer, lifting 10.9%, after UBS upgraded its rating from a SELL to NEUTRAL. Mesoblast (ASX:MSB) blasted 10% higher, likely because of the broader gains in the Health Care Index, the XHJ, where nearly all members recorded gains. Other top stocks included mining companies, Mineral Resources (ASX:MIN), Champion Iron (ASX:CIA) and Pilbara Minerals (ASX:PLS).
Fortescue Metals (ASX:FMG) was one of the most traded stocks by Bell Direct clients yesterday, jumping 3.3% yesterday following news that the company is teaming up with AGL Energy (ASX:AGL) to develop a hydrogen hub for the Hunter Valley coal plants, and off the back of the recent rebound in the iron ore price, which pushed 7% higher.
Moving to the US, as at the time of recording, stocks are flat. All three of the benchmarks are trading slightly higher, with the Nasdaq up the most. Some of the comeback was off the back of vaccine news from Pfizer and BioNTech, who confirmed that three doses of the vaccine are effective at neutralising the Omicron variant.
Following the relatively positive session over on Wall Street, the futures are suggesting the Aussie share market will give back some of its recent gains and open 0.5% lower.
What to watch today: