SYDNEY, AAP – Insurers and banks made most of the moves and news at the start of a busy earnings week and helped the ASX to a record high.
Suncorp’s full-year earnings revealed a special dividend and on-market buyback for investors. Shares rose 7.84 per cent to $12.79.
Westpac sold its life insurance arm and NAB bought Citigroup’s Australian consumer business. The big four banks all closed higher.
Financial shares helped propel the ASX200 to a record 7567 points.
However, the rest of the market was a letdown and the index closed flat at 7538.4.
The All Ordinaries closed lower by 2.2 points, or 0.03 per cent, to 7804.3.
The Australian dollar was buying 73.56 US cents at 1624 AEST on Monday, lower from 73.88 US cents at Friday’s close.