The Aussie share market bounced back from mid-session weakness in the afternoon to end the day on a positive note, following a mixed Wall Street close last night.
“Financial stocks led by the big banks were the biggest movers today,” said Chris Conway, Head of Research at Australian Stock Report.
According to Conway, the ANZ Banking Group (ANZ) rallied nearly 3% while the Commonwealth Bank (CBA) and National Australia Bank (NAB) added 1.7% and 1.4% respectively.
Among the oil stocks, Oil Search (OSH) finished up 0.5% and Woodside (WPL) shed 0.2%.
Conway said, “The miners were mixed with Fortescue (FMG) the biggest gainer of the lot, adding 3%, whilst Rio Tinto (RIO) was little changed,”
“BHP Billiton (BHP) dropped 2.9% amid the continued fallout of the deadly industrial accident at a Brazilian mine.”
Elsewhere, it was good news for the gold miners as the sector added 1.3% with Evolution Mining (EVN) and Newcrest (NCM) amongst the best, up more than 1% each.
On the day, the ASX 200 gained 23 points (+0.5%) to close at 5123.