ASX 200 closes up 0.3pc Reliance, Ampol tank

Trading remained light on the local sharemarket ahead of Tuesday night's Federal Budget. The S&P/ASX 200 trimmed a 0.8 per cent opening rise to close up 0.3 per cent at 6798.6. The high was the best in six weeks. 

Budget day expectations will be among the factors influencing equity investors. Picture: Gaye Gerard

Welcome to the Trading Day blog for Tuesday, October 25. The S&P/ASX 200 closed up 0.28 per cent to 6,798.6 points, the highest in six weeks, led by Real Estate, Communications, Discretionary, Health Care and Financials.

Australia's share market ended slightly higher, but well off intraday highs again. The S&P/ASX 200 trimmed a 0.8 per cent opening rise to close up 0.3 per cent at 6798.6.

Real Estate, Communications, Discretionary, Health Care and Financials outperformed, with Goodman up 1.7, Telstra up 1.6, Wesfarmers up 0.9, CSL up 1.1, CBA up 1.3 per cent.

Credit Corp gained 7.9 per cent as the company confirmed its earnings guidance, while Reliance Worldwide and Ampol both lost about 13 per cent on weak updates.

Treasurer Jim Chalmers will deliver his first budget around 7.30pm AEDT ahead of Wednesday’s release of September quarter CPI data, which is likely to show a jump in annual headline inflation to 7 per cent.