MARKET NEWS

Aust shares recover to post more gains
21/10/2014 5:07 PM

A late rally has pushed the share market to a sixth straight day of gains, overcoming a mid-afternoon slump.

The All Ordinaries index closed 0.1 per cent higher, despite several blue chip stocks weighing on the market, with falls from eight out of the market's 20 largest companies.

CMC Markets chief market analyst Ric Spooner suspected traders may be concerned prices have grown far enough in recent days.

"People are concerned not about a major risk event, but the possibility that some of these world economies have not not been responding for a long time with growth ... things remain sluggish in Europe," he said.

Data out of China showed its economy expanded 7.3 per cent in the past year and industrial production was up eight per cent, within market expectations, Mr Spooner said.

Westpac dropped 16 cents to $33.41 and Commonwealth Bank fell eight cents to $77.18, while ANZ added two cents to $32.47 and National Australia Bank gained eight cents to $33.52.

Among the miners, BHP Billiton shed nine cents to $33.75, while Rio Tinto added 24 cents to $59.97 and Fortescue Metals was nine cents higher at $3.55.

The two big supermarket chain owners were relatively flat, while Telstra gained two cents to $5.42.

Gold miner Newcrest dropped three cents to $9.78 after it re-affirmed full year guidance but reported a 12 per cent fall in production in the September quarter.

Bread and spreads maker Goodman Fielder rose one cent to 63 cents after the federal government approved a foreign takeover of the company.

KEY FACTS

* At the close on Tuesday, the benchmark S&P/ASX200 index was up 5.6 points, or 0.11 per cent, at 5,325 points.

* The broader All Ordinaries index was up 5.2 points, or 0.10 per cent, at 5,312.5 points.

* The December share price index futures contract was up five points at 5,311 points, with 27,028 contracts traded.

* The price of gold in Sydney at 1700 AEDT was $US1,248.60 per fine ounce, up $10.40 on Monday's closing price of $US1,238.20.

* National turnover was 2.2 billion securities worth $4.4 billion.

Aust shares recover to post more gains
21/10/2014 4:49 PM

A late rally has pushed the share market to a sixth straight day of gains, overcoming a mid-afternoon slump.

The All Ordinaries index closed 0.1 per cent higher, despite several blue chip stocks weighing on the market, with falls from eight out of the market's 20 largest companies.

CMC Markets chief market analyst Ric Spooner suspected traders may be concerned prices have grown far enough in recent days.

"People are concerned not about a major risk event, but the possibility that some of these world economies have not not been responding for a long time with growth ... things remain sluggish in Europe," he said.

Data out of China showed its economy expanded 7.3 per cent in the past year and industrial production was up eight per cent, within market expectations, Mr Spooner said.

Westpac dropped 16 cents to $33.41 and Commonwealth Bank fell eight cents to $77.18, while ANZ added two cents to $32.47 and National Australia Bank gained eight cents to $33.52.

Among the miners, BHP Billiton shed nine cents to $33.75, while Rio Tinto added 24 cents to $59.97 and Fortescue Metals was nine cents higher at $3.55.

The two big supermarket chain owners were relatively flat, while Telstra gained two cents to $5.42.

Gold miner Newcrest dropped three cents to $9.78 after it re-affirmed full year guidance but reported a 12 per cent fall in production in the September quarter.

Bread and spreads maker Goodman Fielder rose one cent to 63 cents after the federal government approved a foreign takeover of the company.

KEY FACTS

* At the close on Tuesday, the benchmark S&P/ASX200 index was up 5.6 points, or 0.11 per cent, at 5,325 points.

* The broader All Ordinaries index was up 5.2 points, or 0.10 per cent, at 5,312.5 points.

* The December share price index futures contract was up five points at 5,311 points, with 27,028 contracts traded.

* National turnover was 2.2 billion securities worth $4.4 billion.

Aust shares close higher
21/10/2014 4:16 PM

The Australian share market has closed higher, with a sharp late rise into the green after spending almost the entire session in negative territory.

At the close on Tuesday, the benchmark S&P/ASX200 index was 5.6 points, or 0.11 per cent,higher at 5,325.0, while the broader All Ordinaries index was up 5.2 points, or 0.1 per cent, at 5,312.5, according to preliminary figures.

On the ASX 24, the December share price index futures contract was three points higher at 5,310, with 25,924 contracts traded.