The local share market surged higher today, more than reversing the damage inflicted upon it during yesterday's rout. Although there is still plenty of uncertainty surrounding what a Trump presidency will look like, investors had a boost in confidence from international markets.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 3.3% to 5328 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 3.3% to 5408 points
- AUD/USD at US 76.62 cents
- Iron Ore at US$70.98 a tonne, according to the Metal Bulletin
- Gold at US$1,282.85 an ounce
- Brent oil at US$46.31 a barrel
Today's gains begun with the miners following a solid night for iron ore. BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) gained 8.2% each. Fortescue Metals Group Limited (ASX: FMG) and South32 Ltd (ASX: S32) rocketed 10.7% and 8.1%, respectively.
The banks generated huge gains as well. Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group (ASX: ANZ) were the best of the big four. They rose 4.4% and 4.2%, although all four ended the session at least 3.3% higher.
CSL Limited (ASX: CSL) rose 5.5% and Woolworths Limited (ASX: WOW) gained 2%.
Among the market's best for the day were Aconex Ltd (ASX: ACX), QBE Insurance Group Ltd (ASX: QBE) and Computershare Limited (ASX: CPU). The trio rose between 11.8% and 13.7%.
The vast majority of shares on the ASX rose today – many significantly so. But there were some stocks that didn't join in the gains.
The obvious ones were the gold miners after gold prices slumped. Regis Resources Limited (ASX: RRL) fell 9.4%, St Barbara Ltd (ASX: SBM) dropped 8.8% and EVOLUTION FPO (ASX: EVN) shed 6.3%.
Transurban Group (ASX: TCL) and Sydney Airport Holdings Ltd (ASX: SYD) suffered too. They fell 3% and 1.8%, respectively.
Here are Thursday's top stories:
- 5 ways to prepare for a volatile share market
- 5 shares I'd buy with $5,000 after the US election
- 4 ASX shares doing the Trump Jump today
- Shares of BHP Billiton Limited SURGE as iron ore tops US$70
- Why Transurban Group and Sydney Airport Holdings Ltd are getting slammed today
- The consequences of Trump winning the US election
