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The Australian 200-share benchmark ASX200 has breached the 7,000 mark for the first time in over 13 months, as global equities continue to march ahead.
The benchmark opened flat at 6,928 but rallied soon as investors started the buying spree. At the time of filing this copy, the ASX200 was trading at 7,009.00, up 81 points (1.17%).
The index was lifted by rise in the mineral and energy scrips. Unibail-Rodamco-Westfield (ASX:URW), gaining 4.7% till now on Thursday, is the biggest gainer on ASX200, while Resolute Mining Limited (ASX:RSG) has been the biggest loser on the index – losing 2.60% intraday.
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The index has now erased all the losses it made during the March 2020 bear run. The benchmark has rallied by 46.6% since bottoming out on 19 March 2020, and is now just 1.8% shy from its life-high. The index last traded above the 7,000-mark on 21 February 2020 – a day before the coronavirus pandemic-triggered global equity meltdown started.