Local shares followed their international counterparts higher today as investors continue to come to terms with Friday's Brexit decision. It would be naïve to assume the volatility is behind us, but investors certainly appear to be more willing to accept greater risks again.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.8% to 5142 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.8% to 5221 points
- AUD/USD at US 73.89 cents
- Iron Ore at US$53.65 a tonne, according to the Metal Bulletin
- Gold at US$1,320.90 an ounce
- Brent oil at US$48.75 a barrel
It was the banks helping to boost the ASX 200 again today. Australia and New Zealand Banking Group (ASX: ANZ) lifted 1.3%, while Westpac Banking Corp (ASX: WBC) was the second best of the majors, rising 1%.
Some companies exposed to Britain also enjoyed strong rebounds. Westfield Corp Ltd (ASX: WFD), for instance, jumped 4.1%, while CYBG PLC CDI 1:1 (ASX: CYB), or Clydesdale Bank, rose 2%.
Meanwhile, BHP Billiton Limited (ASX: BHP) jumped 1.5% and Telstra Corporation Ltd (ASX: TLS) rose 1.3%.
Qantas Airways Limited (ASX: QAN) was one of today's best performers, rising 6.1%. Ardent Leisure Group (ASX: AAD), on the other hand, dropped 4.1%.
Here are Wednesday's top stories:
- Could the European Union and share markets benefit from Brexit?
- Vocus Communications Limited could rocket on $807 million Nextgen Networks deal
- Brexit bargains on the ASX
- 3 post-Brexit investor survival strategies to consider
- The 10 stock-picking questions I ask before investing
- What shares should you hold in your SMSF in 2017?
- 3 important lessons for investors following Brexit
