Australian shares continue gains

Business | 26 Mar 2020 12:25 pm

The Australian share market has entered positive territory for a third straight session, despite more companies laying off staff and closing their doors due to coronavirus.

By 2:50pm local time, the benchmark S&P/ASX 200 index had ganed by 2.9 percent or 142 points at 5,141, ABC News reports in Australia.

The rally came despite a survey by the Bureau of Statistics revealing that nearly half of Australian businesses had already experienced an adverse impact from the virus outbreak, before the restrictions were introduced.

Shares in Premier Investments — owner of Smiggle, Peter Alexander, Portmans and Just Jeans — had clawed back from early losses to be up by 2.2 percent, after it announced stores are being shut down..

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