Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Wednesday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.26% to 6,108.00
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.34% to 6,204.40
- AUD/USD at US 74 cents
- Gold at US$1,308.64 an ounce
- Brent Oil at US$76.49 a barrel
The big news of the day was Commonwealth Bank of Australia (ASX: CBA) reporting its third quarter profit. The market seemed to agree with my assessment that it wasn’t a great update, the share price went down 2.8% today.
Several shares reacted to the government’s budget last night.
Challenger Ltd (ASX: CGF) announced that it approved of the government’s new retirement income product, the Challenger share price grew by 5.2%.
Aged care providers didn’t react so well today after the government announced funding for more care at home. Regis Healthcare Ltd (ASX: REG) fell by 3.9% and Estia Health Ltd (ASX: EHE) dropped by 1.4%. However, Japara Healthcare Ltd (ASX: JHC) didn’t move.
Here are some of today’s top stories:
- These stocks find themselves unexpectedly swept up by the federal budget
- Commonwealth Bank of Australia reports a disappointing quarter profit
- Greencross Limited share price down 18% on significant impairments
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Motley Fool contributor Tristan Harrison owns shares of Challenger Limited, Greencross Limited, JAPARA DEF SET, and Regis Healthcare Limited. The Motley Fool Australia owns shares of and has recommended Challenger Limited and Greencross 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 Scott Phillips.