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Here’s what drove the ASX 200 higher today

The local share market continued to rise today, as it approached its highest level since the beginning of the year.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.1% to 5272 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1% to 5336 points
  • AUD/USD at US 78.11 cents
  • Iron Ore at US$64.77 a tonne, according to the Metal Bulletin
  • Gold at US$1,255.01 an ounce
  • Brent oil at US$46.08 a barrel

Resources shares continued to drive the local market higher today as oil prices gained 3% and iron ore rose 3.1% overnight.

BHP Billiton Limited (ASX: BHP) was one of the biggest winners. Although it retreated slightly as the day wore on, the shares still gained 3.5%. South32 Ltd (ASX: S32) shares also surged 8%.

Shares in the energy sector performed even better. Woodside Petroleum Limited (ASX: WPL) gained 5.9%, while Origin Energy Ltd (ASX: ORG) and Santos Ltd (ASX: STO) soared 8.8% and 10%, respectively.

The banks also managed to end the day in the black. Australia and New Zealand Banking Group (ASX: ANZ) shares gained 1.7% while each of its major rivals gained 1.3%.

Meanwhile, shares of NIB Holdings Limited (ASX: NHF) and Medibank Private Ltd (ASX: MPL) soared 11.2% and 3.6% following NIB’s earnings upgrade.

Unfortunately, Myob Group Ltd (ASX: MYO) and Coca-Cola Amatil Ltd (ASX: CCL) didn’t fare so well today. Myob lost 4.3%, while Coca-Cola Amatil dropped 3.5%.

Here are Thursday’s top stories:

  1. Why this veteran fund manager just bought oil shares
  2. Why the NIB Holdings Limited and Medibank Private Ltd share prices skyrocketed today
  3. BHP Billiton Limited shares hit 5-month high: Have you missed the boat?
  4. Why brokers think Somnomed Limited shares can soar higher
  5. 2 ways the Telstra share price could soar back over $6
  6. Interested in a 9.5% fully franked dividend?

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