The share market is higher as gains in the resources and industrials sectors offset another bad day for Commonwealth Bank.
CBA was down 2.6 per cent as investors continued to digest the impact of its $5 billion capital raising, but its three major rivals were higher, even as ANZ issued a mixed trading update.
BHP Billiton, Rio Tinto and Fortescue Metals Group were higher, while rail and freight operator Asciano soared more than seven per cent after it agreed to a $12 billion takeover by Canada’s Brookfield Infrastructure Group.
Insurer QBE was another strong performer, more than two per cent higher after achieving 24 per cent half year profit growth.
KEY FACTS
* At 1210 AEST on Tuesday, the benchmark S&P/ASX200 index was up 15.7 points, or 0.29 per cent, at 5,383.4 points.
* The broader All Ordinaries index was up 16.1 points, or 0.3 per cent, at 5,384.7 points.
* The September share price index futures contract was 38 points higher at 5,340 points, with 19,339 contracts traded.
* National turnover was 901 million securities worth $2.7 billion.
