Australia’s S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Tuesday.
Here’s a short recap of the Australian market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) higher 1.95% to 6,005.90
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) higher 1.76% to 6,068.10
- AUD/USD at US 73 cents
- Gold at US$1,314.38 an ounce
- Brent Oil at US$62.79 a barrel
The best-performing ASX 200 share today was insurance business Steadfast Group Ltd (ASX: SDF) which rose by 11.5%. It was one of many shares to experience large share price movements due to the Royal Commission report.
The Commonwealth Bank of Australia (ASX: CBA) share price went up 4.7%. The National Australia Bank Ltd (ASX: NAB) share price gained 3.9% and the Australia and New Zealand Banking Group (ASX: ANZ) share price rose by 6.5%. Who knows how long this recovery will last?
However, it isn’t good news for everyone. The Mortgage Choice Limited (ASX: MOC) share price plunged more than 25% with worries about trail commissions being banned for new loans.
Here are some of today’s top stories:
- Why the Fastbrick Robotics share price is rocketing today
- How Google just posted a A$12.4 billion quarterly profit
- Why the OceanaGold share price tumbled 9% lower on Tuesday
- Why Navitas shares are still trading cheaper than its takeover bid price
The easy returns have probably been made on the bank. I’d rather buy shares of these top ASX shares that offer long-term growth over the banks.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank Limited, Shopping Centres Australasia Property Group, and Xero. The Motley Fool Australia has recommended Steadfast Group Ltd. 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.