The local share market defied a fall on Wall Street overnight, aided by a strong performance from the banks after Australia and New Zealand Banking Group (ASX: ANZ) delivered a market update this morning.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.3% to 5,552 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.2% to 5,636 points
  • AUD/USD at US 76.33 cents
  • Iron Ore at US$61.56 a tonne, according to the Metal Bulletin
  • Gold at US$1,331.84 an ounce
  • Brent oil at US$45.06 a barrel

ANZ’s shares rallied 2.9% today, ending the session at $26.44. Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp (ASX: WBC) all followed, rising between 1.6% and 2.2%.

Meanwhile, Telstra Corporation Ltd (ASX: TLS) gained 0.7%, but Transurban Group (ASX: TCL) fell 1.4%. That came after the toll road operator reported its full-year earnings results.

REA Group Limited  (ASX: REA), Carsales.Com Ltd (ASX: CAR) and Cochlear Limited (ASX: COH) all fell heavily at the open, but managed to recover most of their losses. In fact, REA Group and Cochlear closed just 1.1% and 2.8% lower, while Carsales ended the session 1.4% higher.

Mesoblast limited (ASX: MSB) was one of the market’s best performers today, rising 6.6%. IOOF Holdings Limited (ASX: IFL), on the other hand, dropped 7.6%.

Here are Tuesday’s top stories:

  1. Australia & New Zealand Banking Group profit dips, regulatory outlook toughens
  2. Cochlear Limited could be a bargain on today’s share price weakness
  3. Where to from here for the Carsales.Com Ltd share price?
  4. How to find the next 10 bagger (Part I)
  5. Why investors dumped REA Group Limited shares today
  6. 3 things to watch when Telstra Corporation Ltd reports later this week
  7. GR Engineering Services Ltd share price soars on earnings update

Discover How 1 Man Made 100x His Money After 50

Few know, that as Warren Buffett blew out the candles on his 50th birthday cake, he had just 1% of his current fortune. Think about it: At an age when most give up hope, Buffett was just getting started on the remaining 99% of his fortune. Goes to show you that it's never too late for you to potentially get rich. Which is why we've gathered the strategies we learned from Buffett, distilled them down to 11 simple lessons, and put it in an exclusive report for you to claim. Just click here to learn more about this handy investing guide.

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

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.