Market Update: The Australian share market has performed strongly to reach its highest mark since 2008 in response to gains on global stock markets on Friday...

Bell Potter
Bell Potter Stockbroker

Market Update: The Australian share market has performed strongly to reach its highest mark since 2008 in response to gains on global stock markets on Friday night. The S&P/ASX 200 climbed 0.7% higher to 5356 points. Eight of the 10 ASX sectors all reported gains with material companies led the way, rising 1.1% - CDU added 10.7% to $2.39 and SDL up 26.3% to $0.13. Financials were also up with the banks rising between 0.2% to 1.1%. The AUD, that has been rallying on the back of strong economic data from China, has lost some ground today. It dropped 0.1% to US$0.9659. The SPI was up 0.6% at 5,351 points on the Sydney Futures Exchange.

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