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ASX soars to four-month high – The Australian Financial Review

The Australian sharemarket shot to a four-month high on Tuesday, shrugging off concerns of the growing spread of COVID-19.



“For investors, it means banks will likely hold back on dividends to be prudent and manage their capital and it speaks to the uncertainty now inherent in the business backdrop.”
Vaccine developments also supported the upbeat market sentiment, with Pfizer and BioNtech announcing positive results from their trial in Germany while an Oxford University and AstraZeneca vaccine trial also showed promise.
The European Union edged closer to reaching a compromise agreement to its proposed recovery fund…

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