The Australian market rallied on the back of record highs on Wall Street with energy stocks the only sector losing ground.
Here’s the scoreboard:
- S&P ASX 200: 5,735.50 +39.00 +0.68%
- All Ordinaries: 5,730.00 +37.50 +0.66%
- AUD/USD: 0.8046 -0.0036 -0.45%
On Wall Street overnight, the S&P 500 index jumped 1.1%. On the local market, nine out of ten sectors were higher with health care up 1.16% CSL was up 1.35% at $89.18.
NAB, trading ex-dividend, was down almost 2.73% to $34.52. BHP was trading 1.63% higher at $32.49 ahead of its split Monday to create South32.
The top stories for Friday:
2. Metcash, which operates IGA supermarkets against the big players Coles and Woolworths, wants to float off its Automotive Division which generates about $250 million a year. Its shares closed 11% higher at $1.43.
3. Boardroom telco battle. Vocus Communications has sold its 10% stake in merger target Amcom Telecommunications, a move which will give it a better chance at neutralising a blocking move by rival TPG. Vocus closed more than 2% lower at $5.90. Amcom was up 2.5% to $2.43.
4. The Australian dollar. This chart will have Glenn Stevens smiling over his Weetbix.