Announcement posted by de2 Communications 27 Jun 2016
27 June 2016: SYDNEY -- The Aussie market posted some welcome gains today, though they paled in comparison to Friday's brutal selloff.
“The best gains were seen in the materials, property, telco and utilities sectors, which outweighed losses in the IT and financial sectors,” said Chris Conway, Head of Research at the Australian Stock Report.
The big miners enjoyed strong gains, which was somewhat surprising given iron ore finished lower on Friday. BHP Billiton (BHP) put on 3.1%, Rio Tinto (RIO) added 2.9% and Fortescue (FMG) jumped close to 8%.
Elsewhere at the top end of town, Telstra (TLS) put on 2.2%, whilst AGL Energy (AGL) added 2.7%.
Gold miners also enjoyed a day in the sun, with Newcrest (NCM) putting on 2.7% and Evolution Mining (EVN) jumping 3.3%.
According to Conway, some financial stocks weighed on the market today. ANZ Banking Group (ANZ) and National Australia Bank (NAB) down 0.7% and 0.4% respectively. Macquarie Group (MQG) plunged almost 6%.
On the day the ASX 200 added 24 points (+0.5%) to settle at 5137.
For more information, visit:
http://www.australianstockreport.com.au/