The Aussie market has enjoyed a positive start to the new trading week, on the back of the solid leads provided by international markets on Friday night.
The ASX 200 is presently up 21 points (+0.4%), at 5377.
Across the sectors, most are in positive territory led by materials charging ahead on higher commodity prices.
Telco’s have moved lower and financials are dragging as Commonwealth Bank of Australia trades ex-dividend today.
In economic news, S&P has named Australian banks as among the world’s five most stable.
A new report from the agency claims “Australia is currently one of the five least-risky banking systems of the 86 for which Standard & Poor’s has published banking industry country risk assessments.”
S&P also says its most likely scenario for this year is, “A year of continuing investment-grade ratings resilience.”
Around the region, Asian markets are all trading higher; the Hang Seng is up 1% whilst the Nikkei has added 0.3%.
Written by: marketpulse Other posts from: marketpulse