SYDNEY: The Australian share market has ended the last day of the financial year on a positive note as investors prepare themselves for the year ahead.
At 1626 AEST on Tuesday, the benchmark S&P/ASX200 index was up 36.5 points, or 0.67 per cent, at 5,459.0 points.
The broader All Ordinaries index was up 34.6 points, or 0.64 per cent, at 5,451.2 points.
But the benchmark index of the top 200 companies made a gain of only 1.17 per cent for the entire 2014/15 financial year, and the broader All Ordinaries index gained just 1.28 per cent.
IG market strategist Evan Lucas said the modest rise in daily trading on Tuesday was nothing to get excited about as investors closed out positions.
“End-of-financial year trading is coming into it – there’s no denying that,” he said.
Mr Lucas said investors were still cautious, awaiting further developments in the Greek debt saga.
He said European markets could weaken overnight, so trading on the local bourse on Wednesday could be negative.
Investors were also awaiting a speech by Reserve Bank of Australia governor Glenn Stevens in London overnight and Chinese manufacturing data to be released on Wednesday.
Among the major banks, ANZ was up 13 cents at $32.20, Westpac added 13 cents to $32.15, Commonwealth Bank gained 44 cents at $85.13, and National Australia Bank improved 11 cents at $33.31.
In the resources sector, global miner BHP Billiton lifted 10 cents to $27.05, Rio Tinto put on 46 cents at $53.75, and Fortescue Metals eased two cents to $1.91.
