Shares on the Australian market had a third consecutive loss after investors were troubled by a coronavirus variant and underwhelmed by a US economic stimulus deal.
Shares in Fortescue jumped 4.9 per cent, and Mineral Resources 4.7 per cent, during an overall steady day on the ASX despite an economic stimulus deal in the US.
Australia's share market had its seventh consecutive week of gains helped by optimism overseas and a recovering local economy but investors will watch a Sydney coronavirus outbreak after it marred
NAB chief executive Ross McEwan expects the Australian economy will be back to pre-COVID levels by the end of next year, but acknowledges some of the bank's customers face a long struggle.
The requirement for people travelling to WA from NSW to self-quarantine has been reinstated after a recent outbreak of COVID-19 in Sydney, but only until a negative test result is returned.
Scott Morrison is confident premiers won't rush to close state borders again as NSW authorities race to solve the puzzle created by five new cases of coronavirus.
Premier Mark McGowan is awaiting advice from health experts before making any travel restriction decisions, after a Sydney airport worker tested positive to COVID-19.
China's industrial output grew in line with expectations in November, expanding for the eighth straight month as the economic recovery gathered pace and global demand picked up.
Investors have helped deliver gains to Australia's share market, along with most Asian markets, and may be looking to a rosier future since the US approved a coronavirus vaccine.
Australia's share market delivered gains for the seventh consecutive session but an investment strategist did not think the `Santa Claus rally' investors crave will eventuate.