The major banks helped the ASX 200 to a strong rise today, led by Australia and New Zealand Banking Group (ASX: ANZ) share price which gained 3.9%.
Here’s a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.8% to 5732 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.7% to 5779 points
- AUD/USD at US 79.31 cents
- Iron Ore at US$68.84 a tonne, according to the Metal Bulletin
- Gold at US$1,239.34 an ounce
- Brent oil at US$48.64 a barrel
The BHP Billiton Limited (ASX: BHP) share price slipped 1.1% today after the company delivered an operational review for the year ended 30 June 2017. Although its iron ore production levels rose 4%, its petroleum production slipped 13%.
Elsewhere in the resources space, the gold miners once again struggled to gain traction. The St Barbara Ltd (ASX: SBM) share price was one of the worst performers on the ASX 200, losing 6%. The Northern Star Resources Ltd (ASX: NST) share price dropped 3.8%.
The major banks produced very strong gains today. In addition to ANZ’s rise, the Commonwealth Bank of Australia (ASX: CBA) share price gained 3%, the National Australia Bank Ltd. (ASX: NAB) share price rose 3.1%, and the Westpac Banking Corp (ASX: WBC) share price lifted 3.8%.
Here are Wednesday top stories:
- What APRA’s reforms means for your big bank shareholdings
- Why Telstra Corporation Ltd could be about to slash its dividends
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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank Limited and Telstra 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.