Newspaper article Gympie Times, The Qld.

Positive Budget Sentiment Outweighs Falls in Europe and US

Newspaper article Gympie Times, The Qld.

Positive Budget Sentiment Outweighs Falls in Europe and US

Article excerpt

THE Australian share market closed higher yesterday, shrugging off losses in the US and key European markets.

Buoyed by Treasurer Joe Hockey's budget boost for small business, investors ensured the market finished up for the second consecutive session.

At the close of trade the benchmark S&P/ASX200 index had gained 40.4 points, or 0.71%, to finish on 5715.1 points, and the broader All Ordinaries index was up 37.7 points, 0.66%, on 5710.8 points.

Consumer stocks led the market higher, with Woolworths up 2.63% to $28.50 and Wesfarmers rising 1.49% to $44.15. Harvey Norman added 5% to finish on $4.62 and Myer jumped 10.28% to $1.55 after announcing sales had lifted by 2.4% in its third quarter.

The banks also did well with the ANZ up 2.16% to $33.11, the Commonwealth Bank rising 1.33% to $83. …

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