The local share market soared higher again on Wednesday, picking up where it left off the previous session. Incredibly, the ASX 200 has now gained 2.7% over the past two sessions.
Here’s a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.1% to 5833 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1% to 5862 points
- AUD/USD at US 75.5 cents
- Iron Ore at US$53.36 a tonne, according to the Metal Bulletin
- Gold at US$1,269.37 an ounce
- Brent oil at US$48.27 a barrel
Ten Network Holdings Limited (ASX: TEN) shares dominated news headlines today after it was announced the network had entered into voluntary administration. The shares were suspended from official quotation immediately with the TEN share price last fetching 16 cents.
Ten’s rivals certainly benefited. The Nine Entertainment Co Holdings Ltd (ASX: NEC) share price and the Seven West Media Ltd (ASX: SWM) share price rallied 6.2% and 5.3%, respectively. They were two of the market’s top performing shares for the day. The iSentia Group Ltd (ASX: ISD) share price also rose 4.9%.
The Vocus Group Ltd (ASX: VOC) share price lifted 1.4% to $3.68 after the company held its Strategy Day Presentation. The telco reconfirmed its previous earnings guidance.
And the Village Roadshow Ltd (ASX: VRL) share price soared 8.1% after it announced it had sold its stake in Golden Village Singapore, generating proceeds of around $175 million.
Galaxy Resources Limited (ASX: GXY) and Orocobre Limited (ASX: ORE) were among the market’s biggest losers today, shedding 8.6% and 2.9% respectively. The Origin Energy Ltd (ASX: ORG) share price also declined 2.1%.
Here are Wednesday’s top stories:
- Why You Should Totally Ignore Jim Rogers “Worst Crash In Our Lifetime” Call
- 3 ways to prepare for an Australian share market crash
- Here’s why the Vocus Group Ltd share price is trading higher today
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Motley Fool contributor Ryan Newman owns shares of Vocus Communications Limited. The Motley Fool Australia owns shares of Vocus Communications 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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