The local share market edged higher on low volumes today as the market followed overseas leads and the holiday spirit to keep the positive momentum alive over 2017. For the year stocks are already up 2%. Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.3% to 5,753 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.3% to 5,805 points
- AUD/USD up 1% to U.S. 73 cents
- Iron Ore flat at US$77.70 a tonne, according to the Metal Bulletin
- Gold up 1% at US$1,175 an ounce
- Brent oil up 1% at US$56.31 a barrel
Once again it was the energy and materials sector doing much of the heavy lifting for the S&P/ASX 200 with BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and South32 Ltd (ASX: S32) all finishing in positive territory. Gold miners like St Barbara Ltd (ASX: SBM) also enjoyed a gold price that rebounded after the US Fed suggested it's in no rush to lift cash rates.
Changing expectations for the US cash rate cycle saw a sell down in shares of the likes of QBE Insurance Group Ltd (ASX: QBE) and Computershare Limited (ASX: CPU), while the day's worst performer among the Top 200 stocks was lithium miner, Orocobre Ltd (ASX: ORE), down 3%.
