Optimistic start on ASX, most sectors up

Investors have lifted share prices in early trading on the ASX, with stocks up by more than 1.0 per cent on average.

The S&P/ASX200 benchmark index was higher by 54.7 points, or 1.01 per cent, to 5445.8 points after the first 15 minutes of trade on Monday.

The All Ordinaries index was 59.9 points higher, or 1.09 per cent, at 5547.9.

Energy stocks had a flying start, with sector up by 2.2 per cent.

Property stocks were next best – 1.99 per cent higher – followed by industrials at 1.56 per cent.

The consumer staples sector, which includes Coles and Woolworths, was the only one trading lower.

The ASX had a good lead from major US stock indices, which closed trading higher last week.

AMP Capital chief economist Shane Oliver expected ASX traders’ attention to be on the relaxing of coronavirus lockdown measures this week.

Australian state and territory governments are giving people more freedom to mingle, and more businesses are reopening.

One Australian dollar buys 65.35 US cents at 1015 AEST, up from 65.23 US cents at Friday’s close.

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