The leading market indicator the ASX200 today hit its highest level since January 2008.
At the close the index was at 6,172.60, up 70.50 points or 1.16%. The index closed on January 2, 2008, at 6,353.20.
The major banks all put on weight with Westpac up 2.9% to $$28.81 and the Commonwealth 2.9% to $71.91.
Telstra was a drag on the market, down 4.8% to $2.77 after announcing a major restructure and the loss of 8000 jobs.
Shares in McGrath surged 26% to $0.43 after the Aqualand Group paid $10.7 million for a 15% stake in the real estate agency.