Frbiz.com Reported Australian Share Market Closes At Two-month High
THE share market closed at a two-month high amid light trading
, following gains on US markets.
At the 16:15 (AEDT) close, the benchmark S&P/ASX200 index had risen 54.2 points, or 1.13 per cent, to 4845.1 points, while the broader All Ordinaries index had lifted 53.4 points, or 1.11 per cent, to 4856.7 points.
The market last closed above 4850 points on October 23.
On the Sydney Futures Exchange, the March share price index futures coTHE share market closed at a two-month high amid light trading, following gains on US markets.
At the 16:15 (AEDT) close, the benchmark S&P/ASX200 index had risen 54.2 points, or 1.13 per cent, to 4845.1 points, while the broader All Ordinaries index had lifted 53.4 points, or 1.11 per cent, to 4856.7 points.
The market last closed above 4850 points on October 23.
On the Sydney Futures Exchange, the March share price index futures contract was 42 points higher at 4856 on a volume of 14,168 contracts, according to preliminary calculations.
RBS Morgans private client adviser Trent Muller said trading was light given it was the Christmas holiday period, but recent gains from United States markets had helped push up the local bourse.
US markets had traded on Monday this week whereas the Australian market had not.
The market also had not had the opportunity to react to trading on US markets on Christmas Eve, until today.
On Wall Street overnight, the Dow Jones Industrial Average index lifted 26.98 points to 10,547.08.
"The US were up overnight because they didn't have a public holiday on Boxing Day,'' Mr Muller said.
"We're catching up on those missed trading sessions.''
Among the few companies making news on Tuesday was agricultural chemicals supplier Nufarm, which terminated takeover talks with China's Sinochem Corporation and agreed to Japan's Sumitomo Chemical Corporation taking a stake of up to 20 per cent in Nufarm.
Nufarm closed 30 cents, or 2.84 per cent, higher at $10.86 after reaching $11.10.
In the resources sector, global miner BHP Billiton was up 45 cents at $42.92 and Rio Tinto gained 92 cents to $74.42.
Minerals explorer Dioro Exploration nudged up one cent to $1.25 after Avoca Resources increased its takeover bid to $115 million.
Western Plains Resources firmed two cents to 31 cents after it withdrew from a joint-venture project in the Woomera Prohibited Area due to security-of-tenure issues.
Oil and gas producer Woodside Petroleum was 15 cents richer at $47.65 and Santos put on nine cents at $14.08.
Among the major banks, NAB rose 48 cents to $27.18, Westpac found one cent at $25.40, ANZ picked up 31 cents to $22.70 and Commonwealth Bank jumped 63 cents to $54.50.ntract was 42 points higher at 4856 on a volume of 14,168 contracts, according to preliminary calculations.
RBS Morgans private client adviser Trent Muller said trading was light given it was the Christmas holiday period, but recent gains from United States markets had helped push up the local bourse.
US markets had traded on Monday this week whereas the Australian market had not.
The market also had not had the opportunity to react to trading on US markets on Christmas Eve, until today.
On Wall Street overnight, the Dow Jones Industrial Average index lifted 26.98 points to 10,547.08.
"The US were up overnight because they didn't have a public holiday on Boxing Day,'' Mr Muller said.
"We're catching up on those missed trading sessions.''
Among the few companies making news on Tuesday was agricultural chemicals supplier Nufarm, which terminated takeover talks with China's Sinochem Corporation and agreed to Japan's Sumitomo Chemical Corporation taking a stake of up to 20 per cent in Nufarm.
Nufarm closed 30 cents, or 2.84 per cent, higher at $10.86 after reaching $11.10.
In the resources sector, global miner BHP Billiton was up 45 cents at $42.92 and Rio Tinto gained 92 cents to $74.42.
Minerals explorer Dioro Exploration nudged up one cent to $1.25 after Avoca Resources increased its takeover bid to $115 million.
Western Plains Resources firmed two cents to 31 cents after it withdrew from a joint-venture project in the Woomera Prohibited Area due to security-of-tenure issues.
Oil and gas producer Woodside Petroleum was 15 cents richer at $47.65 and Santos put on nine cents at $14.08.
Among the major banks, NAB rose 48 cents to $27.18, Westpac found one cent at $25.40, ANZ picked up 31 cents to $22.70 and Commonwealth Bank jumped 63 cents to $54.50.
by: heiyou
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