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S&P/ASX 200 jumps after Aussie home prices rise most in 17.5 years

Published: 14:01 01 Mar 2021 AEDT

Argonaut Resources NL - S&P/ASX 200

S&P/ASX 200 (INDEXASX:XJO) has jumped 1.26% to 6,757 points by 1.57 pm after Aussie national home prices surged 2.1% in February – the most since August 2003.

Regional home prices also gained 2.1%– the most in 17 years. Home prices are at record highs in Canberra, Adelaide, Brisbane and Hobart.

The manufacturing sector has also posted encouraging numbers, with the AiGroup Performance of Manufacturing index rising by 3.5 points to 58.8 in February – the highest monthly result since March 2018.

However, the final’ HS Markit Manufacturing Purchasing Managers' index eased from a 4.5-year high of 57.2 in January to 56.9 in February.

Top gainers

Today’s top gainers on the ASX include Argonaut Resources NL (ASX:ARE) (+14.29%), Domacom Australia Ltd (ASX:DCL) (+12.86%), Golden State Mining Ltd (ASX:GSM) (+17.24%), Tempest Minerals Ltd (ASX:TEM) (+13.33%) and Valor Resources Ltd (ASX:VAL) (+14.29%).

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