The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has finished the day up 0.31% at 5,480. Earlier in the day the market rallied above the 5,500 level, marking a milestone not seen since mid-2008.
Today's gains follow a positive session overnight on Wall Street where the Dow Jones gained 1.11% and the S&P 500 rose 1.09%, following the release of minutes from the Federal Reserve which boosted investor confidence.
Economic news driving the market today included, the Australian dollar hitting a five-month high with the currency buying just over US94 cents and figures released by the Australian Bureau of Statistics that showed the unemployment rate fell 0.2% to 5.8% in March.
A sell-off amongst the major mining stocks pushed the materials sector lower; the energy sector also fell. All other sectors gained with property the biggest gainer, rising 1%.
Here are the top five best performing stocks in the index today:
- Wotif.com Holdings Limited (ASX: WTF) rallied 6.6% to $2.73
- Regis Resources Limited (ASX: RRL) jumped 6.4% to $2.65
- TPG Telecom Ltd (ASX: TPM) climbed 5.2% to $6.28
- Lynas Corporation Limited (ASX: LYC) rose 5.1% to 20.5 cents
- Sirius Resources N.L. (ASX: SIR) gained 4.9% to $2.56
These stocks were the losers on the day:
