Shares close with strong gains
The Australian bourse finished strongly in the black, past the 4600-point mark on the back of positive offshore leads.
At the close, the benchmark S&P/ASX200 index gained 54.6 points or 1.2 per cent at 4,614.9 points. The broader All Ordinaries index had added 53.5 points, or 1.16 per cent to 4,654.2 points.
On a sector-by-sector basis, information technology shares had climbed 3.8 per cent, while financials and materials both went up 1.5 per cent. Energy took in 1.3 per cent. Gold, health and telecoms declined slightly.
On the Sydney Futures Exchange at 4:17pm (AEST), the September share price index contract added 61 points to reach 4,626, on a volume of 84,700 contracts.
Strong economic data from China, a positive lead from Wall Street and higher oil prices boosted the domestic bourse, according to CMC Markets senior dealer James Foulsham.
"The gains are across the board but mostly in materials and financials," he said.
Of the resource sector, market heavyweight BHP Billiton put in 60c or 1.58 per cent at $38.56. Rival Rio Tinto had added $1.05 or 1.41 per cent to $75.30.
Among the banks, National Australia Bank improved 55c or 2.23 per cent at $25.22. Commonwealth Bank looked up 84c or 1.59 per cent to $53.51, while Westpac gained 45c or 1.96 per cent to $23.39. ANZ increased 30c or 1.27 per cent to $24.01.
Energy stocks were buoyed by a firmer oil price. Oil Search was 22 cents or 3.7 per cent higher at $6.13 after going ex-dividend today. Woodside Petroleum strengthened 44 cents to $42.97 and Santos jumped 18 cents or 1.5 per cent to $12.37.