The ASX Recovered At The Last Moment Today To End A 7-Day Losing Streak

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The Australian stock market climbed out of a hole to beat a seven-day losing streak and end the day in marginally positive territory.

At close, the S&P/ASX 200 was up 0.16% or 8.55 points to 5,415.80 after being down most of the day.

Most of the banks were in positive territory, including Westpac which was up 0.46% to $33.05.

Investors loved clothing and accessories retailers Oroton which posted strong gains in sales and a 15.6% rise profit to $8.26 million.

Its shares were up 12.33% to $4.10.

The gains were balanced by losses among the miners including Fortescue which was down 2.24% to $3.93 and BHP down 0.45% to $35.68.

Shares in iron ore miner Arrium dropped a massive 29.2% to 40 cents after a $754 million capital raising.

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