Evening Market Analysis: Defiant Aussie
Australian shares climbed higher today, despite a disappointing night on international markets.
As a result of today’s positive China developments, a majority of sectors finished in front; financials, IT, property and utilities were the exceptions.
The big four banks were mixed on the day. ANZ and NAB were up 0.2%, whilst rival Westpac lost 0.2%.
The mining majors were stronger, in spite of mixed commodity prices; BHP advanced 1.1%, while Rio Tinto put on 0.2%.
Telstra gained 0.9% after providing the market with an investor update, in which it confirmed earnings and dividend guidance for FY12.
The ASX 200 added 14 points (+0.3%) to settle at 4363, its highest close since early August 2011.