Stocks firm as Britain in focus
The local market has closed higher despite the RBA’s more neutral stance on monetary policy.
The local market has closed higher despite the RBA’s more neutral stance on monetary policy.
The local unit has remained well supported in afternoon trade, edging closer towards US75c.
Investors are taking profit after weeks of gains, as moods shift around the UK’s referendum.
The local unit has rebounded sharply amid a recovery in oil prices and stronger risk appetite.
Morgan Stanley has lifted its target for Woodside, Santos and Oil Search as the outlook for crude prices turns up.
The local market has added $27bn in value as offshore nerves were soothed.
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Banks, miners and energy stocks have bounded sharply higher as offshore fears recede.
The Aussie has lifted closer to US74c as traders await the RBA’s minutes and UK referendum.
Original URL: https://www.theaustralian.com.au/author/amber-plum/page/69