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Australian Stock Report Market Wrap Up: Aussie stocks storm higher

Announcement posted by de2 Communications 01 Dec 2015

1 December 2015: SYDNEY - The Aussie market stormed higher today with every sector recording gains, despite a bearish night on Wall Street.

“The miners were the clear standouts, with BHP Billiton (BHP) jumping 4%, whilst Rio Tinto (RIO) and little brother Fortescue (FMG) put on more than 2% each,” said Chris Conway, Head of Research at Australian Stock Report.

Conway said energy stocks also fared well, with Woodside (WPL) the biggest gainer of the lot, adding 2.3%. Santos (STO) put on 1.5% while Oil Search (OSH) added 0.4%.

The big four banks all posted gains, with ANZ Banking Group (ANZ) leading the charge, gaining 2.3%. Commonwealth Bank (CBA) finished up 1.8%, Westpac Bank (WBC) 1.8% and National Australia Bank (NAB) 1.5%.

There were also gains in the gold subsector with the Evolution Mining (EVN) the best performer, up 5.8%. Slater & Gordon (SGH) was the day's best again, climbing 28%.

Retailers including Woolworths (WOW) and Wesfarmers Limited (WES) also rallied, putting on 3.5% and 2.3% respectively.

Among the losers were some safe yield plays, including Transurban (TCL), APA Group (APA) and Sydney Airport (SYD). According to Conway, “JB Hi-Fi (JBH) fell 1.9% as news emerged Dick Smith (DSH) was set to go on a discounting binge to spur sales.”

On the day the ASX 200 added 100 points (+2%) to settle at 5,266.

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