Trade Resources Economy Local Shares Finished The Month with Strong Gains as ANZ Led a Rise in Banks

Local Shares Finished The Month with Strong Gains as ANZ Led a Rise in Banks

Local shares finished the month with strong gains as ANZ led a rise in banks after its dividend and earnings exceeded expectations.

Stronger offshore markets helped although analysts and fund managers were wary of overseas events that could affect share prices later this week.

The benchmark S&P/ASX 200 closed up 1.3 per cent at 5191.2 after hitting a record of 5195.1. Its 4.5 per cent rise for the month left the index up 12 per cent so far this year.

Trades swelled to $5.5 billion  versus the 20-day day moving average of $4.2 billion.

ANZ gained 5.8 per cent to a record $31.84 after its interim dividend rose 11 per cent to 73c and its first-half cash profit gained 10 per cent to $3.18 billion exceeding market expectations. CEO Mike Smith is "confident" about the full-year outlook in spite of "stress" in parts of the Australian economy.

Source: http://www.theaustralian.com.au/business/markets/bouyant-anz-leads-bank-shares-higher/story-e6frg916-1226632540031
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Bouyant ANZ Leads Bank Shares Higher
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