MENU

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.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked…

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of The Motley Fool’s Top 3 Blue Chip Stocks for 2019.

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in a specially prepared FREE report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

See the 3 blue chip stocks

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

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 Financial Services Guide (FSG) for more information.