ANZ Bank profit results push the Australian market higher

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A bank rally following good half year results from the ANZ is driving the Australian market higher.

The ANZ, which announced a half year cash profit up 5% to $3.676 billion, was trading 3.88% stronger at $34.53.

Investors yesterday sold down financial stocks after Westpac posted a flat half year profit result. Westpac lost more than 3% in value.

Today, Westpac was still behind but had recovered 0.59% of its losses to be trading at $35.81.

The NAB was up 1.57% to $36.86 and the Commonwealth 1.55% to $89.37.

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