The local share market has been coming close to setting a new all-time high this morning, with every sector either up or flat at midday.
At noon AEDT on Monday, the benchmark S&P/ASX200 index was up 36.1 points, or 0.46 per cent, to 7,805.3, while the broader All Ordinaries had gained 38.4 points, or 0.48 per cent, to 8,064.7.
Forty-five minutes earlier the ASX200 had hit a two and a half week intraday high of 7,844.4, less than nine points under its all-time intraday high of 7,853.1, set March 8. It also set an all-time closing high of 7,847 on that date.
This holiday-shortened week should be less driven by global macroeconomic events than last week’s busy week of central bank meetings was. But traders will be keeping an eye on Wednesday’s Australian consumer index index report for February.
At midday the ASX’s consumer staples sector was flat and its 10 other sectors had gained ground.
Tech and property were the biggest movers, up 1.4 per cent, as Goodman Group had climbed 2.5 per cent and Xero had advanced 1.9 per cent.
Goldminer West Africa Resources was the biggest gainer in the ASX200, up 6.4 per cent as the price of the precious metal rose $US7 to $US2,172 an ounce.
Elsewhere in the sector, BHP was up 0.2 per cent, Fortescue had gained 2.6 per cent and Rio Tinto had added 0.9 per cent.
Three of the four big retail banks were higher, with ANZ up 0.4 per cent, CBA adding 0.3 per cent and Westpac 0.1 per cent higher. NAB was the outlier, declining 0.4 per cent.
The Australian dollar was buying 65.29 US cents, from 65.24 US cents at Friday’s ASX close.
