ASX 200 lifts for eight straight sessions on brighter outlook

The Australian share market defied expectations today, lifting for the eighth consecutive session despite early signs that it would lose some of its recent gains.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.5% to 5458 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.5% to 5538 points
  • AUD/USD at US 75.94 cents
  • Iron Ore at US$58.42 a tonne, according to the Metal Bulletin
  • Gold at US$1,329.93 an ounce
  • Brent oil at US$47.80 a barrel

Beginning on a sour note, the energy sector dragged on the market today. BHP Billiton Limited (ASX: BHP) dropped 0.7% while Liquefied Natural Gas Ltd (ASX: LNG) shares lost 2.8% and Sundance Energy Australia Ltd (ASX: SEA) shed 8.7%.

The gold producers were mixed, as well. Independence Group NL (ASX: IGO) lost 2.1%, but Regis Resources Limited (ASX: RRL) gained 1.3%.

The banks continued to rally today, led by Australia and New Zealand Banking Group (ASX: ANZ) and Westpac Banking Corp (ASX: WBC). The pair rose 0.4% and 0.6%, while all four major banks ended the day in the black.

Telstra Corporation Ltd (ASX: TLS) also rose 0.5%, while Woolworths Limited (ASX: WOW) ended the day 2% higher.

Mesoblast limited (ASX: MSB) was one of the top performers for the session, rising 3.6%.

Here are Monday’s top stories:

  1. 3 ASX stocks set to benefit from Pokémon Go
  2. One Dining Boom stock you should buy and two to avoid
  3. 3 of the best ASX small caps with juicy dividends
  4. Is Telstra Corporation Ltd’s 4% dividend sustainable?
  5. 3 top shares to buy for your grandkids
  6. Here’s why Lynas Corporation Limited shares surged 20% today
  7. 3 top dividend stocks for financial year 2017

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. 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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