The Australian Market Is On Track For Its Best Year Since 2009

The Australian market is on track for its best year since 2009, with only half a day of trading to go.

Today was a quiet day, with only $2.3 billion in shares changing hands (compared to a 2013 daily average of $4.4 billion), but both the ASX 200 and All Ordinaries indices closed up 0.6% at 5356.8 and 5358 points respectively.

Markets opened up this morning, and all Australian sectors remained strong throughout the day. Forge Group was today’s big winner, with shares up 54.6% to $1.585 after winning an $830 million contract for work at the Roy Hill iron ore mine.

CommSec market analyst Juliette Saly now expects the market to gain almost 15% this calendar year, the best annual return since 33% in 2009.

Analysts are expecting a lacklustre 2014, with a CIMB report earlier this month forecasting a 6% rise in the ASX 200 throughout the year, after growing 19% in the 11 months to 29 November.

Via investing.com, here’s the year so far:

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