The local sharemarket shrugged off heavy falls in commodities overnight, to record its third straight day of gains.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.4% to 5,137 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.4% to 5,192 points
- AUD/USD at US 70.98 cents
- Iron Ore at US$45.58 a tonne (down 4.5%), according to the Metal Bulletin
- Gold at US$1,073.20 an ounce
- Brent oil at US$43.57 (down 2.2%) a barrel
Following mixed leads from the US, but strong gains in European shares, the ASX had a slow start but drifted comfortably higher as the day progressed.
The market was led higher by gains in financials and banks. Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Ltd. (ASX: NAB) were the best-performing major bank stocks, rising 1%.
Despite falls in oil prices overnight, shares of Woodside Petroleum Limited (ASX: WPL), Santos Ltd (ASX: STO) and Oil Search Limited (ASX: OSH) also ended the day higher.
A 4.5% fall in iron ore prices on the back of a bleak Chinese demand outlook was enough to bring shares of BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) between 2.7% and 3.15% lower.
Here are Monday's top stories:
- Veteran mining reporter calls BHP Billiton Limited a "red hot buy"
- BHP Billiton Limited shares cheapest in 25 years
- Fortune Favours The Brave
- An investor's guide to Primary Health Care Limited
- Is it time to dive into these 3 market rejects?
- Why the Ainsworth Game Technology Limited share price plunged 6.5%
