Australian share prices closed up 1.3 percent on Monday after central banks around the world moved to stabilise debt markets by pumping billions of dollars into their systems, dealers said. The benchmark S&P/ASX 200 index closed up 75.6 points or 1.3 percent at 6,011.6 while the broader All Ordinaries closed up 62.3 points or 1.0 percent at 6,027.5.
But the index closed down from midday highs up around 1.6 percent. "I was a little surprised at the strength this morning. I thought investors would test the downside again, which happened in the afternoon," said Macquarie Wealth Management private client advisor Joseph Youssef. Among the miners, BHP Billiton ended 48 cents higher at 35.14 dollars, while Rio Tinto closed down 77 cents at 84.00 dollars.
Commonwealth Bank closed 1.25 dollars higher at 54.60 dollars, National Australia Bank was up 1.01 dollars at 39.23 dollars, Westpac was up 34 cents at 26.14 dollars and ANZ was 37 cents higher at 28.59 dollars. Macquarie Bank, which lost seven percent Friday, ended down 55 cents at 71.55 dollars.
A total of 499 shares closed up, 792 shares closed down, with 301 stocks unchanged. Market volume traded reached 2.15 billion shares worth 5.73 billion Australian dollars (4.86 billion US). Qantas, which reports its June year results Thursday, rose fell four cents to 5.35 dollars. Telstra closed up 10 cents at 4.35 dollars.
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