Australian Stock Market Report – Afternoon 8/16/2012

By Steven Daghlian, CommSec Market Analyst,

Shutterstock photo

(4.30pm AEST)

The Australian sharemarket improved for the third time this week, with the All Ordinaries Index (XAO) gaining 1.1 pct or 46.5 pts to 4353.5. The energy and financial sectors led the rest of the market higher, while the property trusts ended flat.

After a tough start to the week, the financial sector rose strongly today, with the S&P/ASX 200 Financials index rising by 1.33 pct or 58.5 pts to 4458.1. Westpac ( WBC ) gained 1.86 pct or 44 cents to $24.12, while Commonwealth Bank of Australia ( CBA ) jumped by 1.78 pct or $1.00 to $57.05. ANZ Banking Group (ANZ) rose 1.14 pct or 27 cents to $23.90, while National Australia Bank (NAB) gained 0.99 pct or 24 cents to $24.50.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Commodities
Referenced Stocks: CBA , WBC

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