ASX rises after Labor victory, global equity markets rebound

From abc.net.au

Australian shares have opened higher on Monday, following the Labor Party's election victory after nearly a decade out of power. ASX 200 was up 21 points or 0.3 per cent to 7,164 at 10:11am AEST. The Australian dollar was up at 70.63 US cents at 10:11am AEST. Among the top movers were Codan (+13.3pc), Elders (+9.1pc) and A2 Milk (+5.1pc). However, Block dopped 3.6 per cent, Novonix lost 1.7 per cent and Zip was down 1.6 per cent. Global equity markets rebounded on Friday after the S&P 500 pared losses that briefly took it into bear market territory. China cut its prime rate for five-year loans, which influences ... (full story)