Australian stocks closed sharply higher.
Here’s the scoreboard:
- S&P ASX 200: 5,118.20 +114.38 +2.29%
- All Ordinaries: 5,174.30 +109.81 +2.17%
- AUD/USD: 0.7088 -0.0009 -0.13%
The market quickly clawed back Monday’s 0.94% fall and kept going to record the biggest one day gain since August 25.
All ten local sectors gained ground as investors followed the lead of Wall Street where the S&P 500 added 1.5%.
Energy stocks were up 3.7% as a group on the back of a rise in oil prices. Santos strengthened 5% to $4.34 and Woodside Petroleum added 2% to $29.40.
The major banks were higher, led by the Commonwealth, up by 3% to $77.07.
Worley Parsons, a resources industry service company, was up 6.4% to $5.88 after appointing a new finance chief, former Transurban executive Tom Honan.
Greencross Limited, a veterinary services and pet product business, closed up almost 10% to $6.30. There was no news to explain the rise.
The top stories Tuesday:
1. Investment-grade. Standard & Poor’s returns Qantas to BBB- from BB+. Its shares closed up almost 6% to $3.76.
2. The rise of vitamins. Around half of Blackmores sales are being driven by the China grey market. Its shares gained 5% to $174.72.
3. Profit guidance on infant formula sales. A2 Milk gets a boost from China. Its shares closed up 4.7% to $0.88.
4. Driving growth. The RBA minutes just made a great case for Australia’s continued economic recovery.
5. A bigger US footprint. Ainsworth buys a US pokie machine manufacturer. It closed down 6.4% to $2.90.
6. $3.5 billion in the bank. Westpac has closed its capital raising by selling shares not taken up by retail investors at a premium. Westpac was up 1.9% to $30.60.
7. Turning research into a commercial project. Bill Ferris, founder of Australia’s first venture capital company, is the new chair of Innovation Australia
8. A big rise in deaths from deaths from terrorism. The deadly rise of terrorism in the 21st century.
9. It’s not too late. The 6 biggest financial mistakes people make in their 50s.
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