Market Wrap: ASX rebounds but BHP shares sink

The local share market rebounded today following two bruising days for investors.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1% to 4821 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.9% to 4870 points
  • AUD/USD at US 70.89 cents
  • Iron Ore at US$45.73 a tonne, according to the Metal Bulletin
  • Gold at US$1,208.67 an ounce
  • Brent oil at US$30.59 a barrel

Although it was another volatile day on the ASX, the main bourse still ended the day higher after Janet Yellen, chair of the US Federal Reserve, gave the impression that she won’t hike interest rates next month.

All four of Australia’s major banks ended the day higher, although it was Australia and New Zealand Banking Group (ASX: ANZ) recording the biggest gain. Its shares rose 1.3% while its rivals rose between 0.1% and 0.9%.

Telstra Corporation Ltd (ASX: TLS) also regained 1.8%, while CSL Limited (ASX: CSL) shares rose 2%. BHP Billiton Limited (ASX: BHP) wasn’t so lucky. Its shares fell 2.6% and ended the day at $15.24.

Sundance Energy Australia Ltd (ASX: SEA) was the biggest winner, its shares rising 14.3%. Tassal Group Limited (ASX: TGR), on the other hand, fell 6.1%.

Here are Thursday’s top stories:

  1. The ANZ share price has now fallen 35% over the past year
  2. The BHP Billiton Limited share price has plunged 48% over the last year
  3. Official: It’s a bear market
  4. The Westpac Banking Corp share price is down 15% in 2016
  5. Should you buy Healthscope Ltd at today’s share price
  6. 3 high-growth shares you don’t need to babysit
  7. Why Bank of Queensland Limited shares are tanking

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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