Facebook Pixel Code

Australia shares edge up on Clinton lead in presidential debate; New Zealand flat

Australian shares ended marginally higher on Thursday with polls showing a tilt in momentum away from Donald Trump after the final U.S. presidential debate.

Strong gains in bank stocks underpinned U.S. shares overnight after Yellen said the Fed could raise interest rates 'relatively soon', while U.S. consumer prices recorded their biggest increase in six months in October. (Reuters)
Strong gains in bank stocks underpinned U.S. shares overnight after Yellen said the Fed could raise interest rates 'relatively soon', while U.S. consumer prices recorded their biggest increase in six months in October. (Reuters)

Australian shares ended marginally higher on Thursday with polls showing a tilt in momentum away from Donald Trump after the final U.S. presidential debate.

According to a CNN snap poll, 52 percent thought Clinton won the debate while 39 percent said Trump was the victor.

“Never in the history of the U.S. has a candidate faced such a deficit in the polls as Trump currently holds, with at least two well-known sites (that model the probability of the outcome) putting an 85-90 percent chance of a Clinton win,” Chris Weston, chief market strategist at IG in Melbourne, wrote in a note.

The S&P/ASX 200 index inched up 0.1 pct to close at 5442.1 pts.

Financials and consumer cyclicals declined while basic materials and industrials gained.

BHP Billiton Ltd ended 1.7 pct higher after recording its biggest intraday percentage gain in three weeks, while Westpac Banking Corp ended down 0.6 percent.

New Zealand’s benchmark S&P/NZX 50 index recouped some losses in early trading to end flat at 6,973.78, a more than three-month low.

Gains in telecom stocks and industrials was offset by losses in financials and utilities.

Trade Me Group Ltd, the worst performer on the index, recorded its biggest intraday percentage loss in more than two years to end at a three-month low.

If you are keen to know more about Nifty 50 and BSE Sensex levels and seek expert advice on what’s driving the gains and how to build your portfolio, track the latest stock market stats, share market news and top brokerage bets on Financial Express. Download the Financial Express App for the fastest and most reliable business news alerts, key investment strategies and latest movers and shakers from across financial market.

First published on: 20-10-2016 at 12:33 IST
Market Data
Market Data
Today’s Most Popular Stories ×