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Retail sales for December quarter rose 2.5%: ASX closed 3.4% higher for the week

05 Feb 2021 – It has been a positive day of trade for the Australian share market. After opening higher, it continued its momentum to close the week off strong. At the closing bell, the ASX closed 75 points or 1.1 per cent higher to 6841. Over the week, we closed 3.4 per cent higher or 233 points higher. All sectors gained ground today except utilities and materials. Industrials led the charge with the likes of Transurban (ASX:TCL) up 3 per cent and Sydney Airport (ASX:SYD) up 2.7 per cent. Newscorp (ASX:NWS) surged after posting solid results while REA Group (ASX:REA), helped lift the communications sector after reporting a 13 per cent increase in half year profits. Oil companies also rose following upwards moves in its futures.

Source: Finance News Network

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