Market Close 7 Dec 21: ASX posts best gain since early Oct as led by energy names

The Australian sharemarket has rallied to close near the day’s highs, following a rebound on US markets  overnight. The ASX 200 (XJO) jumped 68 points or 0.95% to 7,313 – recording its best one-day gain in nine weeks. Almost all sectors gained ground, with the exception of the Utilities sector. The Reserve Bank of Australia met today for the final time this year, leaving the cash rate on hold as expected at 0.1%.

This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (the Bank), and a market participant of ASX Limited and CHI-X Pty Limited, a clearing participant of ASX Clear Pty Limited and a settlement participant of ASX Settlement Pty Limited. Any advice contained in this report is general advice only and is not a recommendation to buy, sell or hold any securities, property, real estate or financial products, and has been prepared without taking account of the objectives, financial or taxation situation or needs of any particular individual. Before making any investment decision, you should consider your own investment needs and objectives and consider seeking financial advice. Past performance is not a reliable indicator of future performance. This report is produced by Commonwealth Securities Limited based on information available at the time of publishing.  We believe that the information in this report is correct and any opinions, conclusions or recommendations are reasonably held or made as at the time of its compilation, but no warranty is made as to accuracy, reliability or completeness.  To the extent permitted by law, neither the Bank nor any of its subsidiaries accept liability to any person for loss or damage arising from the use of this report.