ASX gains 2.6% as oil slides and Wall Street rallies

The S&P/ASX 200 closed at a two-month high after US election results lifted global shares. Oil fell more than 8% after comments from Donald Trump and JD Vance.

Written by AI from 2 sourcesUpdated Thu 5 Nov, 4:22 pm AEDT

What’s new: The ASX has closed 2.6% higher at a two-month high, with the latest reporting describing the rise as its best day of the year.

The S&P/ASX 200 rose 2.6% to 9065.1 on Thursday, its highest close in two months. The West Australian described the session as the local market’s best day of the year. The Australian Financial Review The West Australian
Technology and mining led the gains, while energy shares fell 4.8% as oil prices dropped more than 8% to a two-month low. The Australian Financial Review
NextDC surged 50.8% after responding to a share raid, while NAB fell 5.4% following disappointing full-year results. The Australian Financial Review