The local stock market soared higher today, rising to its highest level in two months.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.7% to 5351 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1.7% to 5388 points
- AUD/USD at US 72.49 cents
- Iron Ore at US$52.18 a tonne, according to the Metal Bulletin
- Gold at US$1,168.34 an ounce
- Brent oil at US$48.29 a barrel
The ASX followed the lead set by Wall Street overnight, which surged on the back of indications of further easing in monetary policy in Europe and stronger-than-expected earnings reports in the U.S.
All four major banks recorded strong gains, with all having now increased their borrowing rates. National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp (ASX: WBC) gained 1.9% and 1.7%, while all four ended the day more than 1% higher.
Woolworths Limited (ASX: WOW) gained an impressive 3.8%, while BHP Billiton Limited (ASX: BHP) and Telstra Corporation Ltd (ASX: TLS) also lifted. They ended the day 2% and 1.6% higher, respectively.
Drillsearch Energy Limited (ASX: DLS) was the market's top performing stock, rocketing 26%. Worleyparsons Limited (ASX: WOR) was the worst, losing 3.6%.
Here are Friday's top stories:
- Could Woolworths sell Big W?
- National Australia Bank and ANZ Banking Group lift home loan rates
- An interview with Mark Bouris of Yellow Brick Road Holdings Ltd
- 2 fully franked dividend stocks I'd buy before the Big Four banks
- ResMed Inc. (CHESS) shares flat on double-digit revenue growth
- Qantas Airways Limited shareholders will go nuts over this