Australia market begins new financial year with firm footing

The Australian share market ended solidly higher on first trading session of the new financial year, 1 July 2015, as strong buying on recently battered stocks buoyed by a suite of takeover announcements throughout the day. Greece missing of the deadline for the repayment of a 1.6 billion euro loan to the International Monetary Fund was largely ignored by the market. Most of the ASX sectors closed higher, with shares of financials, industrials, and energy companies being major gainers. The benchmark S&P/ASX 200 Index spurted 56.70 points, or 1.04%, to end at 5515.70, while the broader All Ordinaries Index jumped 54.80 points, or 1.01% to 5506.

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