Banking and finance sector leads charge on global markets after Brexit

Gains on global markets overnight saw a little bit of the Brexit gloom lift from the local share market with the dollar is now buying 55.4 pence and is just on 74 US cents.

The All Ordinaries Index closed at 5,221, a gain of 41 points while the ASX-200 lifted 39 points to 5142.

The gains were led by the banking and finance sector, with the big four banks all performing well.

The Commonwealth Bank put on 36 cents to $73.46, Westpac lifted 28 cents to $28.80, ANZ recovered 31 cents to $23.60 and NAB gained 11 cents to $24.74.

There were also healthy gains from UK-exposed stocks.

Qantas lifted 16 cents to $2.77, BT Investment Management put on 43 cents to $8.12 and IRESS gained 53 cents to $10.90.

Meanwhile, the housing industry peak body's latest survey of new home construction in Australia, shows the housing construction boom has peaked.

New home sales dropped by more than 9 per cent over April and May this year.

Petrol retailer Caltex has told the share market it is expecting another strong half-year profit of between $245 million and $260 million.

As a result, its shares put on 97 cents to $31.87.

In commodities, gold, West Texas crude oil and iron ore all finished higher.

Source: ABC News

Leave a Reply

Your email address will not be published. Required fields are marked *