Why the ASX 200 went nuts today

Local shares skyrocketed more than 2% today, following the lead set by international markets on Friday. This was largely due to a better-than-expected US June payrolls report which appears to have helped ease concerns related to the world’s biggest economy.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 2% to 5337 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1.9% to 5417 points
  • AUD/USD at US 75.67 cents
  • Iron Ore at US$55.17 a tonne, according to the Metal Bulletin
  • Gold at US$1,365.52 an ounce
  • Brent oil at US$46.51 a barrel

The banks played a huge role in today’s rally. While all four banks rose more than 2%, Australia and New Zealand Banking Group (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) were the best, lifting 3.5% and 3.3%.

The miners were strong, too. BHP Billiton Limited (ASX: BHP) gained 2.9%, while South32 Ltd (ASX: S32) soared 6.9%.

Meanwhile, Beadell Resources Ltd (ASX: BDR) and Silver Lake Resources Limited. (ASX: SLR) were strong among the gold miners. The pair gained 6.3% and 6.8%, respectively.

Fellow gold miner Independence Group NL (ASX: IGO) was one of the best for the day as well, rising 6.1%.

Unfortunately, Primary Health Care Limited (ASX: PRY) didn’t fare as well, shedding 2.4%, although it did fall as much as 8.4% earlier in the session.

Here are Monday’s top stories:

  1. These Are the 10 Highest-Dividend Shares by Yield – but Are Any Worth Buying?
  2. ASIC’s court claims could shatter the big banks’ reputations for good
  3. 4 financial ratios to understand before buying shares
  4. Supermarket shares could keep falling on margin pressure
  5. Independence Group NL surges on gold production update: Is it a buy?
  6. The ultimate growth stock: Catapult Group International Ltd
  7. 8 stocks to benefit from government policy in the years ahead

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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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