NT News

Strong day for investors

- REBECCA LE MAY

THE Australian sharemarke­t surged 1.9 per cent on Thursday, its best performanc­e in 10 months.

The benchmark ASX200 index closed 1.88 per cent stronger at 7332.2 points, while the All Ordinaries Index jumped 1.73 per cent to 7629.7.

CommSec analyst Steven Daghlian (pictured) said the ASX put in a better than expected performanc­e given an unconvinci­ng bounce on Wall Street overnight on Wednesday. “Tech stocks were down and the broader US market was only up by about a fifth of 1 per cent,” Mr Daghlian said.

He said the last day of the month and quarter could have generated some unpredicta­ble moves on markets, with some fund managers “using the opportunit­y to clean up their books and investment­s”.

The ASX200 closed down 2.7 per cent for the month.

OMG chief executive Ivan Tchourilov said blue chip stocks performed well across both mining and banking sectors. Westpac shares rallied 3.3 per cent to $26 on Thursday and Rio Tinto jumped 3.5 per cent to $100.18.

Retailers were also strong performers, with Woolworths gaining 2.8 per cent to $39.35 and rival supermarke­t giant Coles adding 2.17 per cent to $16.99. JB Hi-Fi rose 3.01 per cent to $45.52, Shaver Shop added 3.03 per cent to $1.02 and Super Retail Group climbed 3.5 per cent to $12.21.

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