Shares creep higher ahead of US election results

The local share market has been holding early gains in light trade, as investors await the outcome of the US election.

The All Ordinaries was 0.3 per cent higher at 4,516 by 11:56am (AEDT), and the ASX 200 matching that gain, up 13 points to 4,498.

Gains have been broad-based, with most of the major banks and miners helping support the market.

Rio Tinto and Fortescue were both posting rises of around 0.5 per cent, although BHP Billiton was pretty much flat amid media reports that it is starting a process to find a new chief executive over the next year or two.

The major banks were led by Westpac, up 1 per cent, and ANZ up 0.9 per cent, while Commonwealth Bank was flat on its first quarter trading update, and National Australia Bank was down 0.4 per cent.

The Australian dollar has held on to the gains made of the back of yesterday's interest rate decision - it was buying 104.2 US cents.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9291+0.0003+0.04%
    AUDUSD=X
    0.5535+0.0001+0.02%
    AUDGBP=X
    0.6720-0.0001-0.01%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg