Market Wrap: ASX rebounds as SEEK shares fire

Local shares found some support today following yesterday’s heavy selloff.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.1% to 4881 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) flat at 4944 points
  • AUD/USD at US 71.74 cents
  • Iron Ore at US$51.64 a tonne, according to the Metal Bulletin
  • Gold at US$1,232.38 an ounce
  • Brent oil at US$34.22 a barrel

It was another volatile day for the local share market, but it ultimately ended the session on a high note with shares of the big four banks finding some support.

Three of the major banks ended the day in the black, and Australia and New Zealand Banking Group (ASX: ANZ) was the strongest of the lot, rising 1%.

Unfortunately, the same cannot be said for the nation’s biggest miners. BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell another 1.1% and 1.7%, although Fortescue Metals Group Limited (ASX: FMG) shares rose 3.5%.

Investors cheered SEEK Limited (ASX: SEK) 7.9% higher after a solid earnings report, although Crown Resorts Ltd (ASX: CWN) fell 4.6% after its own earnings report.

Village Roadshow Ltd (ASX: VRL) was one of the worst performing shares for the day, losing 13.4%. Breville Group Ltd (ASX: BRG), on the other hand, rose 12.1%.

Here are Thursday’s top stories:

  1. Here’s why the Crown Resorts Ltd share price plunged 8% today
  2. Blackmores Limited reports monster growth: What you need to know
  3. PRICE CRASH: Here’s why the TEMPLE WEB FPO share price crashed 69% today
  4. Why the SEEK Limited share price is soaring today
  5. Why the Breville Group Ltd share price is going gangbusters today
  6. Here’s why Village Roadshow Ltd shares crashed 14% lower today
  7. Here’s why the 1-Page Ltd share price soared 27% today

Discover the 'new breed' of blue chips that could take your portfolio higher in 2016

Forget BHP and Woolworths. These 3 "new breed" top blue chips for 2016 pay fully franked dividends and offer the very real prospect of significant capital appreciation. Click here to learn more.

The report is free! No credit card required.

Motley Fool contributor Ryan Newman owns shares of 1-Page Ltd. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.