The local share market stormed higher today, despite a mostly weak lead set by international markets overnight.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.7% to 5755 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.8% to 5796 points
- AUD/USD at US 76.01 cents
- Iron Ore at US$59.70 a tonne, according to the Metal Bulletin
- Gold at US$1,251.76 an ounce
- Brent oil at US$46.51 a barrel
Shares of a number of big-name businesses helped drive the market higher today. The BHP Billiton Limited (ASX: BHP) share price and the Fortescue Metals Group Limited (ASX: FMG) share price benefited from a strong rise in the iron ore price. The Rio Tinto Limited (ASX: RIO) share price gained 2.5% as well.
Each of the banks ended the session in the black, too. The Westpac Banking Corp (ASX: WBC) share price lifted 0.9% and the Commonwealth Bank of Australia (ASX: CBA) share price rose 0.8%.
Elsewhere, Sirtex Medical Limited (ASX: SRX) was one of the big winners for the day. Although the company announced major write-downs to its research and development assets, the Sirtex share price soared 17.1% on its cost-cutting initiatives including a reduction in headcount.
The Myer Holdings Ltd (ASX: MYR) share price rose 6% as well, while Southern Cross Media Group Ltd (ASX: SXL) surged 7.1%.
SKYCITY Entertainment Group Limited-Ord (ASX: SKC) didn't fare so well. Its share price fell 3.7%, while gold miners Newcrest Mining Limited (ASX: NCM) and Evolution Mining Ltd (ASX: EVN) dropped 2.7% and 2.1%, respectively.
Here are Wednesday's top stories:
