Market Close 16 Oct. 2019: Market extends winning streak to a fifth day

The Aussie market had its best day in more than six weeks (August 30), as it extended its winning streak into a fifth day. The ASX 200 closed 84 points or 1.27% higher at 6736 with rather broad based gains. The index shrugged off news that the IMF revised global growth guidance lower for 2019 and 2020. Better than expected bank earnings in the US helped boost local financials while retail stocks also turned around yesterday’s losses.

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