Local shares fired back to life on Thursday, reinvigorating the market's relief rally after a brief fall on Wednesday.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 2.3% to 4992 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 2.2% to 5047 points
- AUD/USD at US 71.58 cents
- Iron Ore at US$46.35 a tonne, according to the Metal Bulletin
- Gold at US$1,208.79 an ounce
- Brent oil at US$34.99 a barrel
The ASX 200 rose strongly on Thursday after oil prices soared overnight. According to various reports, the price rise came as a result of discussions between some of the world's biggest producers about potentially freezing output levels, thus easing the supply rout.
BHP Billiton Limited (ASX: BHP) gained 6.1% for the day, while its fellow energy producers Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO) gained 4.6% and 7.6%.
AWE Limited (ASX: AWE), the market's top-performing share for the day, also rose 23.8%.
The banks were also on fire today. All four ended the day at least 2.5% higher, but Westpac Banking Corp (ASX: WBC) was the best of the lot, rising 2.8%.
Other strong gains came from Domino's Pizza Enterprises Ltd. (ASX: DMP) up 9.5%, and Fortescue Metals Group Limited (ASX: FMG), up 11.5%.
Unfortunately, Arrium Ltd (ASX: ARI) didn't fare so well. The shares fell 45.8%, while Cover-More Group Ltd (ASX: CVO) also lost another 5.1%.
Here are Thursday's top stories:
- Telstra Corporation Ltd not just a retail telco anymore
- Energy shares go berserk as oil price surges
- Sydney Airport Ltd shares soar on surging passenger growth
- Here's why resources shares are going nuts
- Why the Arrium Ltd share price was crushed today
- Here's why the BHP Billiton Limited share price has jumped 5.4% today