Australian Stock Report - Market Pulse
Evening Market Analysis: Quiet Afternoon
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Publish date: Wed, 21 Dec 2011, 05:07 PM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.
Aussie shares soared today, following a barnstorming session on overseas markets last night.
At home the major banks helped drive the market higher; NAB led the way with a 2.7% rise.
Investment Bank Macquarie jumped 2.9% after reports revealed that it may be selling its retail lending business to concentrate on investment banking.
The big miners climbed higher amid stronger commodities; Rio Tinto recorded a 2.5% gain, whilst rival BHP advanced 3% after it sold its stake in one of two diamond operations in Canada.
Retailer Billabong raced up 10.2%, regaining some of the massive losses from earlier in the week.
The ASX 200 surged 86 points (+2.1%), settling at 4140.
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