The Australian All Ordinaries rebounded 2.3% today to 5,079 points on strong performances from the materials, energy and consumer staples sectors, each one up more than 3% on the session.
One of the few areas lagging was healthcare, which edged down 0.1% in value even though this pharmaceutical research company made headway.
MARKET ACTION
Pharmaxis (ASX:PXS) shares were up as much as 10% today before closing 8% stronger at A$0.27.
This marks a 193% improvement for the stock since February.
Trading today coincided with positive results from a recent paediatric trial for the company’s cystic fibrosis treatment, Bronchitol.
The trial conducted across 39 centres in Canada and Europe was designed in consultation with the European Medicines Agency (EMEA) as a condition of the marketing authorisation granted for Bronchitol for treating adult cystic fibrosis patients in Europe.
Based on the encouraging results with patients aged 6 to 17, Pharmaxis will consider an application to extend the European Union marketing authorisation to include children and adolescents.
To meet the condition in full, Pharmaxis will submit a detailed study report to the EMEA in 2016.
Positive progress for Bronchitol in Europe also reflects well on Pharmaxis’ plans to tap the U.S. cystic fibrosis market, which is the biggest in the world.
BLUE CHIPS
Major miners
BHP Billiton (ASX:BHP) up 5.6% to $17.18
Fortescue Metals Group (ASX:FMG) up 5.3% to $1.90
Newcrest (ASX:NCM) up 1.4% to $12.59
Rio Tinto (ASX:RIO) up 3.0% to $43.02
Energy or Oil and Gas
Oil Search (ASX:OSH) up 4.7% to $6.22
Santos (ASX:STO) up 5.2% to $3.45
Woodside Petroleum (ASX:WPL) up 3.2% to $27.05
Big 4 banks
ANZ Bank (ASX:ANZ) up 2.7% to $26.01
Commonwealth Bank (ASX:CBA) up 2.9% to $79.09
National Australia Bank (ASX:NAB) up 2.6% to $28.38
Westpac (ASX:WBC) up 2.8% to $31.46
Other banks, financials and industrials
AMP (ASX:AMP) up 2.2% to $5.51
Bank of Queensland (ASX:BOQ) up 2.2% to $13.31
Bendigo and Adelaide Bank (ASX:BEN) up 2.1% to $11.02
Macquarie Group (ASX:MQG) up 1.9% to $79.03
Suncorp (ASX:SUN) up 2.1% to $11.57
Telstra (ASX:TLS) up 1.9% to $5.33
Retailers
JB Hi-FI (ASX:JBH) up 1.4% to $18.05
Wesfarmers (ASX:WES) up 4.0% to $38.80
Woolworths (ASX:WOW) up 3.4% to $23.26
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