The Motley Fool

BHP, banks lead the market

After three consecutive days of trading in the red, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has today regained 40 points to be sitting at 5,274.2 points – just 0.5% away from the five-year high set just last week.

Australia’s major banks and miners have lead the charge, with Commonwealth Bank (ASX: CBA), NAB (ASX: NAB), ANZ (ASX: ANZ) and Westpac (ASX: WBC) having gained between 0.25% and 1.39%. Meanwhile, after having released their annual reports today, BHP Billiton (ASX: BHP) and Fortescue Metals Group (ASX: FMG) have appreciated 0.5% and 3.4%, respectively, whilst Rio Tinto (ASX: RIO) has also gained 0.5%, aided by the slight increase in iron ore overnight to US$132.40 per tonne.

The gains have been realised despite fears bouncing around the local economy that heavy market volatility and a high Australian dollar could negatively impact what was anticipated to be one of the best years for share market floats in nearly a decade. The dollar has fallen slightly since yesterday and is currently trading for US93.9c.

Are you interested in our #1 dividend-paying stock? Discover The Motley Fool’s favourite income idea for 2013-2014 in our brand-new, FREE research report, including a full investment analysis! Simply click here for your FREE copy of “The Motley Fool’s Top Dividend Stock for 2013-2014.”

More reading


Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!