ALL ORDINARIES finishes higher Wednesday: 13 shares you missed

Credit: PROVeni

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.

At the other end of the market, Nanosonics Ltd. (ASX: NAN), a2 Milk Company Ltd (Australia) (ASX: A2M) and REA Group Limited (ASX: REA) were amongst the best performers.

Meanwhile, gold miner Northern Star Resources Ltd (ASX: NST) and iron ore producer Fortescue Metals Group Limited (ASX: FMG) were also amongst the best performers.

Here are today’s top stories:

Are you thinking of buying bank shares?

You should try these 3 blue chip dividend share ideas first. They have been hand-picked by our expert analyst.

Just, click here, enter your email address and we'll send you our expert analyst's research report -- completely free.

No payment or credit card details required.


Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any company mentioned. Owen welcomes and encourages your feedback. You can follow him on Twitter @OwenRask.

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.

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.