By Oliver Gray
Investing.com - The S&P/ASX 200 added 0.13% in early deals on Monday, lifting for the first session in 5 and partially recouping losses of 2.2% last week as worsening contagion of the Delta variant continues to hamper the country economic recovery.
New South Wales reported a near record 818 fresh cases today, with 42 cases infectious in the community and 714 cases under investigation as health authorities further tightened restrictions amid surging infection rates, while Victoria reported 71 cases and Queensland recorded a single locally acquired case in home quarantine.
Among stocks, miners were positive as Iron ore prices recovered on Friday, with Rio Tinto Ltd (ASX:RIO) and BHP Billiton Ltd (ASX:BHP) adding 0.34% and 0.68% respectively. Meantime, Sonic Healthcare Ltd (ASX:SHL) plunged 4% after reporting earnings results, while Latitude Group Holdings Ltd (ASX:LFS) lost 2.15% after reporting half-year results.
Among other local news, preliminary data from IHS Markit showed that Services PMI fell to 43.3, the lowest reading since May 2020, while the Manufacturing PMI declined to 51.7, the slowest growth in factory activity since March 2020, amid protracted lockdown restrictions across the country amid the spread of the coronavirus Delta variant.
In New Zealand, the NZX 50 added 162.26 points or 1.25% to 13102.75.