Evening Market Analysis: Defiant Aussie


Evening Market Analysis: Defiant Aussie

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.

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