Market Summary: ASX 200 nears 2016 high

Credit: Michael Devlin,

Local shares were on fire again for much of today with the benchmark ASX 200 even going close to breaching 5,400 points. Although the market did give up some of its gains late in the session, the performance followed that of international equity markets overnight which saw the S&P 500 in the United States hit a record high.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.3% to 5353 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.3% to 5433 points
  • AUD/USD at US 75.87 cents
  • Iron Ore at US$55.68 a tonne, according to the Metal Bulletin
  • Gold at US$1,355.47 an ounce
  • Brent oil at US$46.28 a barrel

The banks were strong again today. Australia and New Zealand Banking Group (ASX: ANZ) was the best of the lot, lifting 1.2%, while Westpac Banking Corp (ASX: WBC) also jumped 0.7%.

BHP Billiton Limited (ASX: BHP) rose 1.4%, Sundance Energy Australia Ltd (ASX: SEA) soared 19.1%, and South32 Ltd (ASX: S32) surged 5.4% higher as well.

The market’s appetite for the gold miners seemed to dampen slightly today. EVOLUTION FPO (ASX: EVN) fell 3.9%, while Beadell Resources Ltd (ASX: BDR) dropped 2%.

Qantas Airways Limited (ASX: QAN) was one of the market’s stronger shares, rising 3.2%. Meanwhile, Cover-More Group Ltd (ASX: CVO) dropped 3.5%, making it one of the worst on the market.

Here are Tuesday’s top stories:

  1. 3 small cap stocks for your portfolio
  2. Post Brexit: Is BT Investment Management Ltd a bargain?
  3. Why Bellamy’s Australia Ltd shares are a buy today
  4. Blackmores Limited and Flight Centre Travel Group Ltd shares could be set to fly
  5. Does biotech Impedimed Limited have blockbuster technology?
  6. Why Goldman Sachs put a $70 share price target on REA Group Limited (ASX: REA)
  7. Brokers name 3 ASX shares to buy today

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Motley Fool contributor Ryan Newman owns shares of Bellamy's Australia. The Motley Fool Australia owns shares of Bellamy's Australia. 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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