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Aussie stocks close on positive note

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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.

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.

Adventure clothing and equipment supplier Kathmandu surged 32 cents, or 25.6 per cent, to $1.57, with New Zealand retailer Briscoe Group planning a takeover.

Law firm Slater and Gordon slumped 22 cents, or 5.82 per cent, to $3.56 amid ongoing concerns about its UK business.

KEY FACTS

* 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.

* The September share price index futures contract was up 18 points at 5,397 points, with 45,297 contracts traded.

* The price of gold in Sydney at 1700 AEST was $US1,175.70 per fine ounce, down $US5.60 on Monday’s price of $US1,181.30.

* National turnover was 1.8 billion securities worth $5.4 billion.