How was your Monday?
Couple of face to face catch ups for us.
A few happy faces @PeakHQ as Carlton won their first final in over a decade…
Who are you rooting for?
Across Markets…
The Australian sharemarket recouped earlier losses on Monday to snap a four-day losing streak, thanks in large part to the banks and iron ore miners.
The S&P/ASX 200 ended the day 36.6 points, or 0.5 per cent higher at 7192.3, despite dropping as much as 0.15 per cent early in trade on Monday. The All Ordinaries rose 0.4 per cent to 7387.8.
Gains in the price of iron ore helped materials stocks higher. BHP rose 1.1 per cent to $43.66, Rio Tinto gained 1.1 per cent to $112.40 and Fortescue Metals jumped 1.2 per cent to $19.63.
Financials also helped the benchmark higher. Commonwealth Bank rose 1.2 per cent to $102.04, ANZ 1.4 per cent to $25.28, NAB 1.4 per cent to $29.05 and Westpac gained 1.8 per cent to $21.55.
Tech stocks were the worst performing among the 11 sectors, down 1.2 per cent, with WiseTech and Xero down 1.2 per cent to and 2.4 per cent, respectively. The fall in tech stocks follows a difficult five days of trading on the tech-heavy Nasdaq last week, as the sector cautiously awaits the launch of tech giant Apple’s latest iPhone.
In company news, Syrah Resources has jumped 7 per cent to 61¢ after the graphite producer secured a US$150 million ($234.6 million) loan for its Balama operation in Mozambique.
China’s credit expanded more than expected in August after the central bank pushed lenders to boost loans and the government accelerated the sale of bonds.
Aggregate financing, a broad measure of credit, was 3.12 trillion yuan ($672 billion), the People’s Bank of China said on Monday, higher than the 2.7 trillion yuan predicted by economists in a Bloomberg survey.
Total credit was 2.5 trillion yuan in the same month a year ago. Financial institutions offered 1.36 trillion yuan worth of new loans in the month, more than the 1.25 trillion yuan forecast by economists