Australian shares edged higher with investors cautious as they waited for a US Federal Reserve decision on interest rates.
Sarah Turner writes on markets and is based in our Sydney newsroom. Sarah previously covered equities, commodities and currencies in London for Dow Jones.
The S&P/ASX 200 Index is mildly higher after a tidy start as markets ready for a FOMC hike. James Packer has stepped back from his business interests.
The S&P/ASX 200 Index was higher on Friday and almost flat for the week as the Wesfarmers spin-off boosted spirits.
The ASX slumped for a second straight session as investors digested more drama out of Washington and banks suffered the fallout from the banking royal commission.
The ASX finished a week of trade-induced volatility 0.6 per cent higher. Myer has been relegated from the S&P/ASX 200 Index.
Australian shares gained for the fourth-straight session on Monday, with investors piling into the banks.
Australian shares climbed on Monday, with traders picking up on a rally in the US on Friday to buy up the banks.
The equity market may have shrugged off the recent Wall Street correction, but not all global fund managers are convinced market conditions signal a return to easy gains.
Shares started the new month on an upbeat note, with investors looking ahead to an upcoming earnings season to deliver some solid corporate results.
After the Federal Reserve kept interest rates on hold, the ASX extended gains though the session while the Aussie dollar weakened.