Australia Stocks Advanced At The End Of Stock Trading

On Thursday, Australia stocks were better after the stock trading. It was as profits in the I.T., Consumer Staples and Financials sectors led shares at a high level.

Moreover, the S&P/ASX 200 increased by 0.67% to hit a new all-time high at the close in Sydney.

On the S&P/ASX 200, the best performers of the trading session were Challenger Ltd, which soared 5.52% or 0.460 points to trade at 8.790 at the close.

Meanwhile, Polynovo Ltd inched up 5.26% or 0.120 points to end at 2.400 along with Mayne Pharma Group Ltd that rose 4.40% or 0.020 points to 0.475 in late trade.

On the flip side, the worst performers of the trading session on the stock market were Super Retail Group Ltd that dropped 5.97% or 0.620 points to trade at 9.770 at the close.

Pilbara Minerals Ltd has also plunged 2.78% or 0.010 points to end at 0.350, and Domain Holdings Australia Ltd inched down 2.77% or 0.110 points to 3.860.

However, on the Sydney Stock Exchange, rising stocks outnumbered dwindling ones by 678 to 494, and 332 ended unchanged.

The S&P/ASX 200 VIX, which is measuring the implied volatility of S&P/ASX 200 options, dropped 1.44% to 10.939.

Hyundai And Kia To Invest In U.K. Electric Van With Arrival

Elsewhere, Korea’s Hyundai Group is supporting a U.K. electric vehicle startup that intends to begin offering battery-powered delivery vans in 2021.

In addition, Hyundai Motor Co and fellow firm Kia Motors Corp are producing an investment of 100 million euros ($110 million) in Arrival Ltd.

Arrival’s foundation was way back in 2015. The company was based in London.

The firm then has developed a boxy, futuristic-looking shuttle bus that aims to be at the commercial delivery market.

In a statement, the company indicates its van will have a variety between charges of 300 miles.

Arrival also stated it would work with Hyundai and Kia. The collaboration was to develop a range of electric vehicles, primarily for the commercial market.

The vehicles are to be developed by Arrival’s modular vehicle platform or “skateboard” that packages motor, batteries, and chassis components.

Moreover, the bundle is related to the skateboard established by U.S. startup Rivian.

Elsewhere, Rivian has the support of Ford Motor Co and Amazon. The companies have an agreement to build 100,000 electric delivery vans for the e-commerce giant. The introduction will be starting in 2021.

Last year, Hyundai and Kia invested $89 million in Rimac Automobili.

It is a nine-year-old Croatian corporation. It also aspires to construct electric supercars.

Porsche AG has been funding the corporation.

Arrival says that its vehicles are supplied with advanced driver-assist features and can be modernized with self-driving systems.