Share markets today showed an early boost in gains following Saturday’s federal election.
At the close, the benchmark S&P/ASX200 index was 36.5 points, or 0.71 per cent, higher at 5,181.5, while the broader All Ordinaries index was up 35.4 points, or 0.69 per cent, at 5,179.4.
Financial expert Michael Pascoe said it was common for new governments to experience “honeymoon period," after polling day.
He said the Prime Minister-elect had been sending mixed messages to the public about the nation’s economy and would likely welcome the boost.
"The Coalition has been very successful in talking down the economy and all of a sudden they're going to be talking it up," he said.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
"I think Tony Abbott is going to be lucky; it looks like the economic cycle is turning just in time for them."
Mr Pascoe said that was good news for superannuation funds and the housing market, with the value of home loans now at a five-year high.
"Nothing makes an Australian happier than to think that the value of their home is going up," he said.
The auto industry is also hoping for a bump and is expecting an increase in sales within the next few months.
Watch: The full report above.
