The S&P/ASX 200 Index rose 3.3 points to 7148.9 points. Codan surged 14.5 per cent to $7.73 and shares in the three big miners all firmed more than 1 per cent.
Rising cases of the coronavirus in Beijing have dampened Australian and Chinese shares, reviving the investors’ fears about China’s growth, and offsetting the rally in election winners.P/ASX 200 Index gained only 3.3 points to 7148.9 points, a gain of less than 0.1 per cent; the All Ordinaries rose 0.1 per cent to 7398.9.
Childcare providers, education and aged-care stocks advanced following Saturday’s election of the Labor government. G8 Education shares rose 2.6 per cent to $1.18, and Estia Health climbed 3.8 per cent to $2.20. Whitehaven Coal fell 2.1 per cent to $5.15 and New Hope shed 0.3 per cent to $3.96. Incitec Pivot intends to split its fertilisers and Dyno Nobel businesses to create two separately listed companies on the ASX; its shares, however, fell 3.7 per cent to $3.60.
Imugene rallied 12.5 per cent to 22.5¢ after it reassured shareholders that the company is “as strong as it has ever been in history”, despite its share price plunging more than 50 per cent this year.Shareholders have had concerns about Imugene’s supply agreement with pharmaceutical company MerckHowever, Imugene chairman Paul Hopper and CEO Leslie Chong said the share price decline had been an overreaction.
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