Australian Stock Report Market Wrap Up: Australian shares surge higher

Announcement posted by de2 Communications 11 Jul 2016

11 July 2016: SYDNEY -- The Aussie market surged higher today, with the ASX 200 recording its best session since May.

“The gains were broad based, with every major sector finishing higher, although financials and materials did the heavy lifting,” said Chris Conway, Head of Research and Trading at Australian Stock Report.

It was a bullish day for the index, as was to be expected following the rally on Wall Street on Friday night, Conway added.

All of the big four banks put on at least 2.3%, with ANZ Banking Group (ANZ) the best of the lot, jumping 3.5%.

Of the big miners, BHP Billiton (BHP) added 2.9%, whilst Fortescue Metals (FMG) surged 5.4%.

Property plays and consumer staples also enjoyed strong buying support, with Woolworths (WOW) leading the latter, up 3.4%.

Big movers on the day included Iluka Resources (ILU) which surged 10.8%, and Whitehaven Coal (WHC) which continued its stellar run, jumping 7.8%.

On the day the XJO soared 107 points (+2%) to settle at 5337.

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For more information or additional details, visit: http://www.australianstockreport.com.au/