Market Update: The S&P/ASX 200 gained 0.8% at 5,335 points following the Dow closed above 16,000 points for the first time. Qantas and Ten Network were among...

Bell Potter
Bell Potter Stockbroker

Market Update: The S&P/ASX 200 gained 0.8% at 5,335 points following the Dow closed above 16,000 points for the first time. Qantas and Ten Network were among the top performing industrials up 4.4% and 6.3% respectively. Resources were higher with Horizon Oil surging 6.8% and Senex Energy gaining 5.6%. Financials were also up with all the major banks higher between 0.4% to 0.7%. The AUD continued to trade lower after various comments throughout this week from RBA governor Glenn Stevens and assistant governor Guy Debelle indicating that they would prefer to see a lower AUD as it will help the economy. It touched a low of US$0.9178 and is currently trading at US$0.9193. The SPI was up 0.8% at 5,345 points on the Sydney Futures Exchange.

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