Australian stocks staged a big comeback.
Here’s today’s scoreboard:
- S&P ASX 200: 5,256.80 +94.14 +1.82%
- All Ordinaries: 5,335.60 +87.32 +1.66%
- AUD/USD: 0.7446 +0.0051 +0.69%
The local marketed surged as fears of a Brexit, the departure of the UK from the European Union, eased.
The ASX 200 pushed back through the key level of 5200 points but the index is still down 2.2% so far this month.
Nine out of ten sectors added weight today with the major banks and the big miners leading the charge.
The Commonwealth added 3% to $74.20 and the NAB 2.8% to $25.75.
BHP was more than 4.3% higher at $18.87 and Rio Tinto 3.1% at $44.79.
Energy stocks rallied more than 5% as a group after a rebound in oil prices. Woodside Petroleum was up 5.9% to $27.47 and Santos 9.5% to $4.70.
The top stories Monday:
1. Forecasting results. Australian public companies are increasingly backing away from giving the market, and their shareholders, guidance on where the profits will sit at the end of the year.
3. A turnaround. Metcash, the operator of IGA supermarkets, has returned to profit, rebounding from a loss. The market at first sent Metcash shares higher but they quickly reversed, dropping more than 12% to close at $1.85.
4. Cuts at SurfStitch. The troubled online clothing retailer SurfStitch plans to cut up to 40 staff from its business in the US. Its shares fell 6.3% to close at $0.220.
5. Do you have what it takes to be a CEO? The latest research finds there are four factors which predict whether a job candidate will become a chief executive.
6. Jobs and talent shortages. Why Australia’s workforce needs to adapt.
7. A credit card startup. Samantha Wills racked up $80,000 on plastic to start her business.
8. Knowing your diners. Restaurateurs are Googling customers before they dine, and a surprising number of people don’t mind.
9. #FakeTradie. A new Liberal Party election commercial is going viral on Twitter but is the tradie real?