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Market Wrap: S&P/ASX 200 Health Care index pushes higher

Today, the Australian share market rose healthily, as oil prices stabilised and the Bank of Japan moved to stimulate its economy.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.7%
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.7%
  • AUD/USD at US 70.63 cents
  • Iron Ore at US $41.47 according to The Metal bulletin
  • Gold at US$1,121.61 an ounce
  • Brent oil at US$35.99 a barrel

The local share market headed higher this morning following strong gains from international markets on Friday. US and European sharemarkets were bolstered by a decision from the Bank of Japan to adopt a negative interest rate policy to encourage spending and consumption.

The S&P/ASX 300 Metal & Mining (Index: ^AXMM) (ASX: XMM) index was the worst-performing sector on the ASX. BHP Billiton Limited (ASX: BHP) and Santos Ltd (ASX: STO) both ended lower. Sundance Energy Australia Ltd (ASX: SEA) fell 16.7% while Bega Cheese Ltd (ASX: BGA) ended 10.7% lower.

Shares included in the S&P/ASX 200 Health Care (Index: ^AXHJ) (ASX: XHJ) index were among the top-performing. CSL Limited (ASX: CSL) and Cochlear Ltd (ASX: COH) pushed 3.6% and 1.7% higher, respectively. Kathmandu Holdings Ltd (ASX: KMD), Independence Group NL (ASX: IGO) and Cardno Limited (ASX: CDD) were the ASX’s top three movers.

Here are Monday’s top stories:

  1. Top stock picks for February
  2. Do investors really hate Medibank Private Ltd?
  3. Blue chip companies to slash dividend payments
  4. 5 shares that crushed the S&P/ASX 200 in January
  5. Dividend alert: 3 shares with fast-growing dividends
  6. Which Australia industries are set to soar in 2016?

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Motley Fool writer/analyst Owen Raszkiewicz owns shares of Cochlear and CSL. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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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