Market opens week with strong gains across most sectors

David Jones shares began the day suspended ahead of a shareholder vote but they rose 1. 3 per cent in the wake of overwhelming support for a $2. 2 billion takeover by South African retailer Woolworths.

The big four banks all gained at least 0. 5 per cent, led by a 0. 6 per cent gain for the Commonwealth. Suncorp rose 0. 5 per cent and the Bank Of Queensland went up 1. 25 per cent but AMP fell 0. 9 per cent.

However, market heavyweight Telstra rose 0. 75 per cent while retailers also posted gains.

Among the miners, BHP Billiton rose 0. 75 per cent and rival Rio Tinto 0. 33 per cent. Fortescue Metals fell 2. 3 per cent.

Read more here: ABC


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