Market Wrap: Banks tumble but ASX ends on top

Local shares lost their early gains but still ended the day higher for the fifth session in a row.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.2% to 5116 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.2% to 5167 points
  • AUD/USD at US 72.19 cents
  • Iron Ore at US$40.46 a tonne, according to the Metal Bulletin
  • Gold at US$1,077.71 an ounce
  • Brent oil at US$36.56 a barrel

The local share market continued its impressive run in the lead-up to Christmas with oil and gas shares providing some much needed energy.

Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO) gained 0.6% and 3.1% each, but BHP Billiton Limited (ASX: BHP) shares unfortunately retreated 1.8%.

Not one of the major banks ended the day in the black. National Australia Bank Ltd. (ASX: NAB) fell just 0.1% while the worst of the four was Westpac Banking Corp (ASX: WBC) which fell 0.8%.

Slater & Gordon Limited (ASX: SGH) and Flight Centre Travel Group Ltd (ASX: FLT) were two of the best-performing shares, rising 9.5% and 5.1%, respectively. Cardno Limited (ASX: CDD) fell 4.8% and was one of the worst performers for the day.

Here are Tuesday’s top stories:

  1. 7 reasons I’d buy Flight Centre Travel Group Ltd shares
  2. Why the 1-Page Ltd share price jumped today
  3. 3 top shares to buy for 2016
  4. Will A2 MILK FPO NZ be the Bellamy’s Australia Ltd of 2016?
  5. Is MYOB Group ltd set to buy Reckon Limited?
  6. eCargo Holdings Ltd shares soar 200% on Woolworths Limited contract

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Motley Fool contributor Ryan Newman owns shares of 1-Page Ltd and Bellamy's Australia. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia owns shares of Bellamy's Australia. 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.

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