The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) recovered from a fall at the opening bell to end the day in positive territory.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.6% to 5,317.7 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.6% to 5,402.4 points
- AUD/USD at US 76.18 cents
- Iron Ore up 1.5% to US$63.96 a tonne, according to the Metal Bulletin
- Gold up 0.6% at US$1,275 an ounce
- Brent oil down 1.5% to US$49.71 a barrel
Australia and New Zealand Banking Group (ASX: ANZ) saw its share price 0.8% to $27.85, after the company tore up its Asian expansion strategy – which had been pushed by former CEO Mike Smith. Instead, the bank will sell its retail and wealth management arms in five Asian countries and concentrate on its Asian institutional business.
Several smaller financial institutions were placed on negative credit watch by ratings agency Standard & Poor's – which saw the share prices of Macquarie Group Ltd (ASX: MQG), AMP Limited (ASX: AMP) and Suncorp Group (ASX: SUN) all sink.
Qantas Airways Limited (ASX: QAN) released its first quarter trading update and initially investors saw the results as bad news, pushing the share price down. By close of trade however, Qantas' share price had recovered to gain more than 4%.
Wesfarmers Ltd (ASX: WES) appears to be shrugging off last week's large fall by adding more than 1.7% to close at $41.01.
Here are Monday's top stories:
- Australian homeowners face prospect of higher interest rates
- Here's why Orocobre Limited shares have gone gangbusters today
- Here's why Qantas Airways Limited shares hit turbulence today
- Why the Vita Group Limited share price is being hammered today
- Rio Tinto Limited sells stake in iron ore mine worth US$50 billion
- Why females make for superior investors
- 3 Halloween stocks to bring your portfolio back from the dead
