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Market Wrap: Hot streak continues for ASX investors

Credit: Ken Teegardin

Local shares rose for the ninth consecutive day today in what has proven to be a remarkable Santa rally.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1% to 5319 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1% to 5366 points
  • AUD/USD at US 72.87 cents
  • Iron Ore at US$42.31 a tonne, according to the Metal Bulletin
  • Gold at US$1,070.60 an ounce
  • Brent oil at US$37.30 a barrel

The Australian share market received another boost from international equity markets today after they rallied as a result of surging commodity prices.

Unfortunately, that didn’t translate to any meaningful gains for BHP Billiton Limited (ASX: BHP) or Rio Tinto Limited (ASX: RIO). Both traded flat at the end of the day after spending most of the session in the red.

National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp (ASX: WBC) were the best of the banks, rising 1.4% and 1.9%, while Telstra Corporation Ltd (ASX: TLS) and CSL Limited (ASX: CSL) gained 1.5% and 1.4%.

Karoon Gas Australia Limited (ASX: KAR) was one of the best shares on the ASX, rising 6.8%, while BlueScope Steel Limited (ASX: BSL) lost 4.9%.

Here are Wednesday’s top stories:

  1. 3 ASX shares to buy for 2016 and beyond
  2. Why Australian Dairy Farms Group shares have more than tripled in price
  3. 3 big name shares to be wary of in 2016
  4. Forget the banks: 3 financial shares for income and growth in 2016
  5. 2 outstanding small cap shares to add to your portfolio in 2016
  6. Will the Telstra Corporation Ltd share price outperform in 2016?
  7. Is Woolworths Limited a top share for 2016?

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. 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 has no position in any of the stocks mentioned. 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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