THE market finished at 5574.33, up 64.23 points from the previous week’s close of 5510.1.
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The All Ordinaries finished down 14.37 points or .25 per cent.
The Australian market opened higher, shrugging off the impact of Friday’s attempted coup in Turkey.
Stocks trended upward throughout the day with gains in the big banks leading the charge, despite falls by the mining companies. Most sectors experienced positive results, with only materials ending lower.
Rio Tinto provided second quarter production results on Tuesday. Second quarter Pilbara iron ore sales achieved a run-rate of close to 330 million tonnes per annum (100 per cent basis) in line with annual guidance. Sales exceeded production in the quarter, partially unwinding the inventory build in the first quarter. Rio slid $1.15 (2.29 per cent) to $48.99.
BHP Billiton provided its operational review for the year ended June 30. BHP exceeded full-year production guidance for petroleum, copper and metallurgical coal, and achieved record full-year production at Western Australia Iron Ore.
The company expects to achieve full-year unit cost guidance at major assets, with unit costs forecast to decline further in 2017. Four major projects under development are tracking to plan. Underlying attributable profit in the June 2016 half year is expected to include additional charges of up to US $175-million. BHP fell 58 cents to $19.25.
Woodside Petroleum released its second quarter report for the period ended June 30. On June 27, the company announced the US $1.9-billion Greater Enfield Project had been approved for development. Woodside added 26 cents to $27.60.
Tthe gold price finished at $169.72 per ounce, the WTI oil price traded at $44.26 a barrel, and the Australian dollar was worth US $0.74.
The Dow Jones finished up 53.62 points to end the week at 18,570.85. The result caused the Share Price Index to finish up four points to end the week at 5471, which should lead to a positive start to trading.