Finance Finance News Australian shares hold ground

Australian shares hold ground

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The Australian share market has started the week on a slightly firmer footing, although uncertainty over the fallout from Friday’s Brexit remains.

After slipping a further 45 points at the opening bell, the market quickly clawed back its losses within less than 30 minutes and at 230pm AEST was trading 0.6 per cent higher at 5142.1

The Australian dollar also continued to find buying support, and was holding at $US0.7407 cents.

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However, despite early signs of investor confidence returning, the share market has considerable ground to make up after Friday’s $50 billion wipeout.

The big four banks were mixed, with ANZ shares down another 0.77 per cent to $23.26, while Commonwealth Bank was ahead 0.33 per cent to $72.81.

Meanwhile, BHP shares were 3.14 per cent higher at $18.09 and gold miner Newcrest was up 0.81 per cent to $23.74.

The gold price has continued to rise, reaching $A1793 per ounce.