CSL leads the mar­ket to three-month clos­ing high

Mercury (Hobart) - - BUSINESS -

THE Aus­tralian share mar­ket fin­ished at a three-month clos­ing high after a broad rally led by CSL and three of the four big banks.

The ASX200 closed yes­ter­day up 48.4 points, or 0.72 per cent, to 6772.5 points, while the All Or­di­nar­ies was up 43.8 points, or 0.64 per cent, to 6877 points.

It was the ASX200’s high­est close since it fin­ished at 6780.6 on Au­gust 1.

“We’re back in record ter­ri­tory,” Bell Di­rect mar­ket an­a­lyst Jes­sica Amir said. “Most of the mar­ket is push­ing for­ward.”

CSL ac­counted for more than a quar­ter of the in­dex’s gains, clos­ing up 3.5 per cent to hit an­other all-time high of $270.56 after a bro­ker up­graded its price tar­get to $295.

The biotech gi­ant pulled the sec­tor 2.8 per cent higher, with Starpharma, Clin­u­vel, Pro Medi­cus, Mayne Pharma and Sigma Health chip­ping in as well with gains of be­tween 3.7 and 6.6 per cent.

ANZ, trad­ing ex-div­i­dend, dropped 2.6 per cent to $25.58 but the other big banks were up sharply.

NAB climbed 1.4 per cent to $28.87, Com­mon­wealth gained 1.1 per cent to $80.05 and West­pac rose 1.3 per cent to $27.78.

After­pay rose 4.6 per cent to $28.20, also on a bro­ker up­grade.

Min­ing was the only sec­tor to drop after the price of iron ore hit a nine-month low.

Fortes­cue Met­als dropped 5.5 per cent to $9.05, Rio Tinto was down 2.4 per cent to $92.98 and BHP dropped 0.3 per cent to $37.18.

The dol­lar was buy­ing 68.53 US cents, down from 68.82 on Fri­day.

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