The Australian sharemarket rose for a second straight session on Tuesday, as shares extended their recovery from last week’s savage $73 billion sell-off.
The Australian sharemarket rose for a second straight session on Tuesday, as local shares extended their recovery from Thursday’s savage $73 billion sell-off, led by a surge in tech stocks.P/ASX 200 Index advanced 47.4 points, or 0.7 per cent, to 7096.5 in the first session of the month.
The performance of the US tech sector was mirrored on the local exchange, as investors ploughed money into stocks such as Block, PointsBet Holdings and Tyro Payments, which had all suffered in recent sessions. Uranium miner Paladin Energy climbed 13 per cent to 87¢ after the head of the German industry association for power and water supplies told Reuters Berlin was reconsidering its decision to shut its last three nuclear power plants in a bid to be less reliant on Russia’s natural gas.
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