The Australian sharemarket rebounded on 10 November 2016, with the S&P/ASX 200 adding 172.2 points to close at 5,328.8. Colonial First State Global Asset Management’s Stephen Halmarick says the initial panic following Donald Trump’s presidential election win has been shorter than expected, adding that the next phase of the reaction to the election outcome is likely to see stocks rise and bonds fall. BHP Billiton was 8.6 per cent higher at $A24.42 and Fortescue Metals Group advanced 10.7 per cent to finish at $A6.01. Banks stocks also rallied, but gold producers fell sharply.
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