Market Wrap: ASX rebounds as BHP shares fire up

The local share market regained some composure today, following the lead set by its international counterparts.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.6% to 4843 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1.6% to 4893 points
  • AUD/USD at US 71.58 cents
  • Iron Ore at US$43.65 a tonne, according to the Metal Bulletin
  • Gold at US$1,220.42 an ounce
  • Brent oil at US$33.15 a barrel

After share markets around the world rallied on Friday night, the ASX also gathered some steam. It ended the day more than 1.5% higher, bolstered by an 11% rise in oil prices on Friday.

BHP Billiton Limited (ASX: BHP) shares certainly benefited from the rebound. Its shares gained 5.9% today, while Woodside Petroleum Limited (ASX: WPL) also gained 5%.

They weren’t the only companies in the resources sector bouncing today. Rio Tinto Limited (ASX: RIO) shares rose 4.3%, while South32 Ltd (ASX: S32) and Fortescue Metals Group Limited (ASX: FMG) gained 7.9% and 5.3%, respectively.

Although Telstra Corporation Ltd (ASX: TLS) actually fell 2.3%, each of the major banks generated reasonable gains. Australia and New Zealand Banking Group (ASX: ANZ) was the best, rising 3%, while Commonwealth Bank of Australia (ASX: CBA) produced the smallest gain, up 1.3%.

Amcor Limited (ASX: AMC) shares rose an impressive 9.6% after it announced a strong interim profit result, but Aurizon Holdings Ltd (ASX: AZJ) fell 11.2%.

Here are Monday’s top stories:

  1. Here’s why the BHP Billiton Limited share price jumped 5.4% today
  2. Why Amcor Limited shares are rocketing today
  3. Deal or No Deal: Greencross Limited takeover bid increases
  4. Newcrest Mining Limited reports: What you need to know
  5. Why the Aurizon Holdings Ltd share price is sinking today
  6. Why you’re richer than you think you are

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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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