Australian Stock Market Report – Afternoon7/30/2012

By Steven Daghlian, CommSec Market Analyst,

Shutterstock photo

(4.30pm AEST)

The Australian sharemarket improved for the third consecutive trading session today, with the All Ordinaries Index (XAO) up 0.8 pct or 32.5 pts to 4266.9. Almost all sectors ended the day higher, with the exception of the energy players which ended largely flat.

The S&P/ASX 200 Financials index (a measure of market performance of the financial sector) rose by 1.28 pct or 55.4 pts to 4395.6 today and led the rest of the market higher. The big four banks all improved, with Commonwealth Bank of Australia ( CBA ) up 1.82 pct or $1.02 to $57.20. CBA is trading close to its highest level since April 2010. National Australia Bank (NAB) is 1.48 pct or 36 cents higher to $24.61 and is trading at its best level in around two months. ANZ Banking Group (ANZ), Australia's third largest banks is up 1.39 pct or 32 cents to $23.40 and is around a three month high. Finally, Westpac ( WBC ), the country's second largest bank, jumped by 1.13 pct or 26 cents to $23.26 however is trading close to a 14 month high.

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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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