Australian Stock Report Market Wrap Up: Australian shares lock in modest gains

Announcement posted by de2 Communications 07 Jun 2016

7 June 2016 - SYDNEY - Despite an afternoon fade, the Australian sharemarket managed to lock another session of gains today.

“Gains in commodity linked plays - materials and energy - were just enough to overcome weakness in most other sectors,” said Chris Conway, head of research at the Australian Stock Report.

Consumer staples, telcos healthcare and consumer discretionary plays were the weak links.

Of the big miners, BHP Billiton (BHP) put on 2.9%, Rio Tinto (RIO) added 1.9% and Fortescue (FMG) tacked on 2.5%.

Among the oilers, Santos (STO) was the best in show, adding 4.1%, whilst Woodside (WPL) and Oil Search (OSH) added 1.5% and 2.4% respectively.

Liquefied Natural Gas (LNG) was the best performer in the 200 on the day, surging 13%, whilst Greencross (GXL) was the worst, off almost 8%.

On the day the ASX 200 added 11 points (+0.2%) to settle at 5371.

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