Australian markets finished the day higher after gains on Wall St overnight.
The S&P/ASX 200 rose 57.4 points or 1.48 per cent to 3924.5.
The All Ords advanced 58.7 points or 1.52 per cent to finish at 3917.5.
In Australian economic news, the Westpac-Melbourne Institute Leading Index, which looks at economic activtity three to nine months ahead, revealed annualised growth rate was up from a revised minus
4.1 in April to –3.1 in May.
By industry sector, energy stocks were up 285.9 points or 2.06 per cent, industrials gained 87.2 or 3.02 per cent, financials rose 45.1 points or 1.23 per cent and utilities put on 21.9 points or 0.54 per cent.
BHP Billiton shares were up $0.51 or 1.51 per cent to $34.30, while Rio Tinto gained $0.98 or two per cent to $50.08.
The Big Four banks all made gains. NAB was up $0.35 or 1.52 per cent to $23.35, ANZ increased $0.12 or 0.73 per cent to $16.50, the Commonwealth Bank gained $0.52 or 1.36 per cent to $38.82, and Westpac added $0.31 or 1.58 per cent to $19.96. Macquarie Group was also up, putting on $0.91 or 2.46 per cent to $37.91.
In retailers, Wesfarmers, which owns Coles, was up $0.14 or 0.61 per cent to $22.98, and Woolworths shares increased by $0.13 or 0.49 per cent to $26.83. Westfield was up $0.04 or 0.36 per cent to $11.19.
Among energy shares, Woodside Petroleum rose $0.55 or 1.36 per cent to $40.89, and Santos was up $0.18 or 1.34 per cent to $13.57.
In Japan, the Nikkei was up 7.4 points or 0.08 per cent to 9269.3.
Hong Kong’s Hang Seng had gained 285.3 points or 1.59 per cent to 18171.0.
Oil was at US$60.38 a barrel, and the Oz dollar was buying 79.38 US cents.
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