AUSTRALIAN STOCKS INCH HIGHER: Here's what you need to know

Milos Bicanski/Getty Images

Pushing aside concerns surrounding Greece, Australian stocks managed to close higher having traded in negative territory for the majority of Monday’s session.

Here’s the scoreboard:

  • S&P ASX 200: 5610.2 +13.2 +0.24%
  • All Ordinaries: 5603.1 +11.6 +0.21%
  • AUD/USD: 0.7787 +0.0019 +0.24%

Despite the small gain only four of ten sectors finished higher for the session with buying among financials, telecommunications, energy and consumer cyclicals enough to offset weakness in utilities, materials and healthcare stocks.

Reflective of the broader sector performance, all of the big four banks finished higher with Westpac the best performer finishing up 0.98% at $33.12. CBA, ANZ and NAB recorded gains of 0.65%, 0.5% and 0.3% respectively.

Elsewhere Telstra put on 0.82%, closing at $6.18, while the big miners, BHP Billiton (-0.3%) and Rio Tinto (0.45%), finished mixed.

Looking ahead this evening all the focus will be on Greece. The Eurogroup hold an emergency meeting which will likely determine whether or not the nation will receive necessary bailout funding to avert a debt default at the end of June.

Greece aside markets will also receive existing home sales data from the US along with Eurozone consumer confidence.

Here’s the daily chart of the ASX 200.

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