ASX resets record as AMP, uranium stocks soar
Joshua Peach
The sharemarket managed to chart its second record high of the week on Thursday, despite an unexpected gain in the labour market and slumping iron ore prices.
The S&P/ASX 200 Index climbed 71.3 points, or 0.9 per cent, to close at a fresh peak of 8355.9 points. The All Ordinaries added 0.8 per centBank stocks led the charge after a strong earnings report from Morgan Stanley overnight. Commonwealth Bank rallied 1.6 per cent to $142, Westpac added 2.6 per cent to $32.55, ANZ gained 1.3 per cent to $31.82 and National Australia Bank rose 1.7 per cent to $39.12.Investors took some money off the table after a robust employment report tempered rate-cut bets. The data showed the Australian economy added 64,100 jobs in September, more than double the market expectations. One in three Money markets now imply less than a one-in-three […]
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