Mining gains lift share market higher

By Simon Frazer

Macquarie Group dropped 0. 1 per cent after the corporate regulator announced the bank will contact all its financial planning customers as part of a compensation scheme over dodgy advice.

It was a mixed session for finance stocks. Westpac gained 0. 4 per cent, NAB 0. 25 per cent and the Commonwealth 0. 2 per cent. ANZ fell 1. 1 per cent despite reporting a record rise in third-quarter earnings.

Building products maker James Hardie crashed 7. 2 per cent after the firm reported an 80 per cent drop in net profit in the three months to June.

Rio Tinto rose by a more modest 0. 4 per cent but gold miner Newcrest fell 0. 7 per cent.

West Texas intermediate crude oil was worth $US95. 49 a barrel, Tapis crude oil was selling for $US104. 66 cents a barrel and spot gold was trading around $1,312. 80 an ounce.

Read more here: ABC


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