The S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) finished higher on Wednesday, following the Federal Government’s release of its 2017 Budget.
Here’s a quick recap of global markets:
- FTSE 100 (UK): up 0.6%
- DAX (Germany): up 0.4%
- CAC 40 (France): up 0.3%
- Dow Jones (USA): down 0.2%
- NASDAQ (USA): down 0.1%
Here are today’s key stats:
- ASX 200: up 0.6%
- All Ordinaries: up 0.6%
- Australian dollar (A$) (AUDUSD): 73.67 cents
- Gold price: down 0.5%
- Copper: up 0.5%
- WTI Crude Oil: down 0.7%
Weighing on the market today were shares of Australia’s big banks. Unsurprisingly, the government’s decision to introduce a bank tax has been strongly opposed by big bank executives.
- Commonwealth Bank of Australia (ASX: CBA) – down 0.35%
- Australia and New Zealand Banking Group (ASX: ANZ) – up 0.8%
- Westpac Banking Corp (ASX: WBC) – down 0.7%
- National Australia Bank Ltd. (ASX: NAB) – down 0.7%
- Macquarie Group Ltd (ASX: MQG) – down 0.6%
Amongst the worst-performing shares were CSR Limited (ASX: CSR). Despite a profit increase in its most recent financial year, investors appear spooked by the building products company’s outlook.
Shares of Quintis Ltd (ASX: QIN), formerly TFS Corporation, fell 44% after the Indian sandalwood’s board said it lost a key contract in December but was not aware until now.
Shares of minerals business South32 Ltd (ASX: S32) fell 2% after saying that production at Illawarra Metallurgical Coal would be at least 10% lower than previous guidance for its 2017 financial year.
Here are today’s top stories:
- Budget 2017: Here’s what it means for stock market investors like you
- Why the big bank levy is hosing down CBA shares
- Baby Boomers: Here’s what the 2017 Budget means to YOU
- First Home Buyers: What the 2017 Budget means to you
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The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of National Australia Bank Limited. The Motley Fool Australia owns shares of A2 Milk and Nanosonics Limited. 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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