The Australian sharemarket is on track to finish the 2018 financial year with a gain of more than 8 per cent, advancing for a second straight year on earnings upgrades from the resources sector and a strong showing from the high-growth market darlings.
In 2016-17, the S&P/ASX 200 Index returned 9.3 per cent. With trading for the financial year concluding on Friday, the benchmark has so far returned 8.6 per cent before dividends after closing at 6215.4 points on Thursday and hitting a fresh decade high on June 25.
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Vesna Poljak is the Companies editor. She was previously the Markets editor with a special interest in the investment industry, hedge funds and accounting. She is based in the Sydney newsroom. Connect with Vesna on Twitter. Email Vesna at vpoljak@afr.com
