The Australian market edged up slightly today, following the mostly positive lead from US and European shares overnight. At home the sectors finished evenly split amongst winners and losers, with materials the main reason for the overall market’s gains.
IT and healthcare were the laggards. The big four banks were mixed, with CBA (+0.2%) and ANZ (+0.2%) the best performing. Westpac was the underperformer, falling 0.4%.
All of the big miners enjoyed solid gains, with BHP (+0.9%), Rio Tinto (+1.8%) and FMG (+2.7%) climbed higher. Horizon Oil advanced 2.8% after it upgraded its resource at its PRL 21 Well in Papua New Guinea.
The ASX 200 added three points (+0.1%) to settle at 4487. For the week the market shed 0.2%.