By Stephen Hogan, Senior Private Client Adviser, Equities/Derivatives

Australian Market

The Australian market (XJO) closed up 36.5 points or 0.71% to 5181.5 today. The first day of the new Government was positive, although the rise in the market did not appear to happen until after the Chinese CPI and Australian Home loan data was released around 11:30am. The XJO never hit negative territory but was hovering prior to the economic news; it then pushed higher til around 1:30pm and slowed down again. We saw a strong close, finishing at the high of the day. On Friday the U.S. finished flat with the Non-farm payroll figures coming in slightly below expectations. The best performing sector Gold followed by Metals and Mining, gaining 3.43% and 1.40% and the worst sector was Utilities, falling -0.58%.