Australian Stock Market Report – Afternoon 8/21/2012


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(4.30pm AEST)

Hopes the European Central Bank will provide more economic stimulus saw local stocks rise today, with the ASX200 breaking through the 4400 point mark briefly, for the first time since May. By close, the ASX 200 (XJO) was up 19.1pts or 0.4pct to 4383.4 while the All Ordinaries Index index (XJO) firmed by 18.9pts or 0.4pct to 4410.8.

Financial stocks were generally firmer, with the exception of Westpac ( WBC ) which fell by 0.4pct to $24.87. The Commonwealth Bank ( CBA ) which fell yesterday as it traded without rights to its dividend, today closed steady at $55.80. The National Australia Bank (NAB) was up 1.9pct to $25.37 while the ANZ (ANZ) finished at $24.95, a rise of 0.7pct.

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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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