Australian stocks closed higher.
- S&P ASX 200: 5,353.20 +16.09 +0.30%
- All Ordinaries: 5,433.20 +15.66 +0.29%
- AUD/USD: 0.7595 +0.0061 +0.81%
The local market marched ahead, weakening toward the close but still adding to yesterday’s 2.04% rise on the back of a global rally.
The major banks again added weight with the ANZ up 1.1% to $24.20 and Westpac 0.65% to $29.38.
BHP was up 1.6% to $19.93 and Fortescue Metals 2.4% to $4.17. But Santo lost 2.2% to close at $4.70.
Big Un Limited, a video review company, jumped 17% to $0.135 after announcing June quarter revenue of $1.8 million, 20% ahead of guidance.
The certainty of who will be the next British prime minister, pushed higher those ASX stocks with an interest in the UK.
CYB, the NAB spinoff of its UK bank Clydsdale, closed 3.2% higher at $4.13.
BT Investments, with a large portfolio in the UK and Europe, added 1.5% to be trading at $7.91.
Iress, which provides infrastructure to the global funds management industry across the commonwealth and has a business in the UK, was up 1.1% to $11.16.
The Henderson group, the global investment management company based in London, was trading 2.7% higher at $3.73.
The top stories Tuesday:
1. Edgy about the economy. The latest ANZ-Roy Morgan consumer confidence index slid by 0.5% to 115.2 last week, the third consecutive decline in a row.
2. A different story for business. In the latest NAB business survey, the subindex measuring business confidence rose to +6 in June, some three points above the levels seen in May.
3. Fintech heaven. KPMG Australia today launched mLabs, an accelerator to connect credit unions and mutual banks with some of Australia’s most promising fintech startups.
4. What worked. The best, and worst, performing Australian stocks of 2016.
5. Need insurance for the smartphone? Optus is repaying $2.4 million to customers.
6. Iron ore blues. The world just can’t get enough of Australian iron ore.
7. The Wine Society. Australia’s oldest wine club is more than $5 million in debt.