The ASX is marching to new 10-year highs

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Australian stocks continued their march higher, hitting 10-year highs at the start of a new trading week.

The ASX200 briefly broke through the key 6301 point level. At the close, the index was at 6,286.00, up 13.70 points or 0.22%.

The market has gained almost 1.5% in little more than a week since the start of the new financial year.

The financial year closed with total returns on Australian shares (All Ordinaries Accumulation index) up by 13.7%

The ASX200 closed last week at new 10-and-a-half year high. A decade ago the ASX200 was at 5,011.90.

Wall Street ended the week on a high with the S&P500 up 0.9% on Friday, its highest in two weeks, shrugging off news that the US and China imposed $US34 billion of tariffs on each other’s exports, and instead focusing on better-than-expected growth US jobs.

Today on the local market, BHP lead the rises, up 2.1% to $33.86. Rio Tinto added 1.1% to $80.91.

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