Investors started buying local shares again, with energy, mining and financial stocks back in favour, pushing the market higher for the first time this week.
Here’s the scoreboard:
- S&P ASX 200: 5,662.30 +52.00 +0.93%
- All Ordinaries: 5,663.60 +49.60 +0.88%
- AUD/USD: 0.7891 +0.0017 +0.22%
Overnight on Wall Street, the S&P 500 index closed down 0.1%. On the local market, all ten sectors were stronger.
The banks, except for NAB, gained with the Commonwealth up 1.3% to $83.56. The miners closed stronger with BHP up 1.4% to $29.24 and Rio Tinto 1.55% to $56.90.
Health care stocks rallied 2% across the board. CSL was up 2.19% to $91.64 and Ramsay Health Care 2.15% to $66.45.
The top stories for Thursday:
1. A share buyback and a special dividend. James Hardie shares soared and closed up 11.6% to $16.99.
2. Iron ore blues. It looks like the seven-day slide in the price may be about to end. The price has fallen 10% since Joe Hockey’s budget.
3. Clamping down on housing investment. BankWest has made the first move.