The Australian market ran strongly in light holiday season trade for the first session since the four-day Christmas break.
Here’s the scoreboard:
- S&P ASX 200: 5,473.80 +79.27 (+1.47%)
- All Ordinaries: 5,447.00 +77.55 (+1.44%)
- AUD/USD: 0.8139 +0.0014 (+0.17%)
The local market followed Wall Street which saw the S&P 500 index up 0.3% for a 0.9% rise for last week.
Mining stocks led the market with gold miner Newcrest Mining firmer by 4.69% to $10.94, Fortescue up 7.48% to $2.73, BHP up 2.49% to $29.69 and Rio Tinto up 2.58% to $58.05.
The big banks are all firmer, led by Westpac at $33.34, up 1.34%.
The Australian market is up about 4.8% in just over two weeks.
And the top stories on Monday:
1. Recruitment shake up. Programmed Maintenance Services has proposed a merger with the Skilled Group which it says will save the two recruitment businesses $20 million a year.
2. There’s money in ageing. A 50/50 consortium between listed investment group Infratil and the New Zealand Super Fund is buying the retirement accommodation group RetireAustralia from J.P. Morgan for $640.2 million.
3. AirAsia’s shares plunged when the Malaysian market opened as the search resumed for its missing passenger plane with 162 people on board between Indonesia and Singapore.