The ASX was back on top today – in a big way.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.5% to 5071 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1.4% to 5102 points
- AUD/USD at US 69.99 cents
- Iron Ore at US$55.30 a tonne, according to the Metal Bulletin
- Gold at US$1,134.60 an ounce
- Brent oil at US$48.00 a barrel
Australian investors shook off further weakness in international equity markets overnight, reversing a large portion of yesterday's losses. This may have been bolstered by comments from a market strategist from HSBC who, according to Fairfax, said "we've seen the worst" for Chinese stocks.
The nation's biggest banks were on their game. National Australia Bank Ltd. (ASX: NAB) rose 1.34%, which was only slightly higher than each of its peers which all rose 1.3%.
Results were mixed in the resources sector after another volatile session for commodity prices. Fortescue Metals Group Limited (ASX: FMG) fell 1.4% but BHP Billiton Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Woodside Petroleum Limited (ASX: WPL) gained 0.2%, 0.7% and 2.4%, respectively.
Senex Energy Ltd (ASX: SXY) also surged 24%, making it the top-performing stock from the ASX 200. Bradken Limited (ASX: BKN) was the worst, falling 6.1%.
Here are Thursday's top news stories:
- Brickworks Limited (ASX: BKW) shares took a dive despite a double digit increase in its underlying profit
- What on earth is going on with the ASX?
- One Fool bought these 7 ASX stocks during the market crash. Could you benefit from any of them?
- Here's what a $10,000 investment in Fortescue Metals Group in 2010 looks like today
- 5 reasons why you should avoid Commonwealth Bank of Australia (ASX: CBA)
- Is our new Federal Treasurer a Fool (capital 'F')?