Local shares ended Wednesday’s session higher despite a brief dip shortly after the market opened. The banks were a key driving force behind the rebound, with Westpac Banking Corp (ASX: WBC) rising 1.5%.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.4% to 5227 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.3% to 5326 points
  • AUD/USD at US 74.87 cents
  • Iron Ore at US$56.09 a tonne, according to the Metal Bulletin
  • Gold at US$1,319.93 an ounce
  • Brent oil at US$47.23 a barrel

A number of blue chips ended today’s session higher. All four banks recorded gains for the day, while Wesfarmers Ltd (ASX: WES) and Telstra Corporation Ltd (ASX: TLS) gained 1.2% and 2.6%, respectively.

NIB Holdings Limited (ASX: NHF) rose 4%, with Medibank Private Ltd (ASX: MPL) also up 1.6%.

On the other hand, BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) didn’t fare so well after iron ore and oil prices fell sharply overnight. They lost 1% and 1.3%.

CYBG PLC CDI 1:1 (ASX: CYB) also ended the day deep in the red, shedding 5.2%.

BigAir Group Limited (ASX: BGL) shares rocketed 23.8% higher following a takeover approach by Superloop Ltd (ASX: SLC). That said, Superloop’s own shares retreated 7.9% on the news.

Hills Ltd (ASX: HIL) shares also retreated after yesterday’s stunning 52% gain. They shed 29% during today’s session, with Santos Ltd (ASX: STO) and Estia Health Ltd (ASX: EHE) also closing 5.7% and 4.4% lower, respectively.

Here are Wednesday’s top stories:

  1. Your instant 4 share growth portfolio
  2. Revealed: 3 ASX companies paying 9% dividends
  3. Is Medibank Private Ltd a buy at this share price?
  4. Superloop Ltd bids for BigAir Group Limited in latest tech merger
  5. Has Aldi just made a huge mistake?
  6. Why investors should sell JB Hi-Fi Limited shares now

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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.