Australian Stock Report Market Wrap Up: Local shares make it four in a row

SYDNEY – 3 March 2016: The Aussie market made it four winning session in a row today, following positive leads from Wall Street overnight.

“Every sector except telcos and healthcare finished in the green,” said Chris Conway, head of research at Australian Stock Report.

He added, “Energy, financials and materials sector did the heavy lifting, supported by utilities, I.T. and consumer staples.”

Origin Energy Limited (ORG) was the bolter in the energy space, adding 5.3%, on reports the company may be considering a break-up, while Santos (STO) tacked on 2.5%.

The big four banks all closed stronger, National Australia Bank (NAB) with the best in show, putting on 3.2%. ANZ Banking Group (ANZ) was up 2.9%, Commonwealth Bank (CBA) 1.3% and Westpac (WBC) 1.8%.

Among the big miners, Fortescue Metals (FMG) jumped 6.7% while Rio Tinto (RIO) advanced 2.1%. BHP Billiton (BHP) also put on 3.1%.

Conway noted that “There were also gains in the gold sub-sector with Northern Star Resources (NST) the best performer in the space, adding 3.2%.”

Among the losers was Mesoblast Limited (MSB), slumping 6.7%.

On the day the ASX 200 advanced 60 points (+1.2%) to settle at 5081.

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