Local shares soared 114 points today, more than making up for yesterday's losses.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 2.3% to 5118 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 2.2% to 5174 points
- AUD/USD at US 70.85 cents
- Iron Ore at US$47.74 a tonne, according to the Metal Bulletin
- Gold at US$1,082.11 an ounce
- Brent oil at US$44.60 a barrel
The ASX surged today following a rise in oil prices overnight, together with a strong session for international equity markets. Comments from the Reserve Bank of Australia also suggested it's pretty happy with the economy right now, providing some encouragement for investors late in the day.
The banks were the big winners for the day, with Commonwealth Bank of Australia (ASX: CBA) generating the biggest gains. It rose 3.1% while its three primary rivals all rose between 1.9% and 2.3%.
A number of other blue chip companies also came to the party. Telstra Corporation Ltd (ASX: TLS) rose 2.5%, Westfield Corp Ltd. (ASX: WFD) rose 2.4% and CSL Limited (ASX: CSL) gained 1.9%.
Elsewhere, BHP Billiton Limited (ASX: BHP) regained some composure, lifting 1.3%. Rio Tinto Limited (ASX: RIO) gained 1.5% while energy producers Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO) gained 2% and 5.1%.
Greencross Limited (ASX: GXL) was the big winner for the day, gaining 9.6%. Ainsworth Game Technology Limited (ASX: AGI), on the other hand, lost 6.5%.
Here are Tuesday's biggest stories:
- 2 stocks that Warren Buffett might buy today
- A rate cut could still be on the table
- Can a new boardroom save Woolworths Limited?
- THREE of our favourite dividend stocks today
- Thorn Group Ltd offers a 6% fully-franked dividend: Should you buy?
- Is it time to jump ship on Origin Energy Ltd and Sims Metal Management Ltd?
