Australian stocks are rallying

Ethan Miller/Getty Images

Australian investors have again shrugged off concerns around a Greek debt default and pushed local stocks higher.

On Wall St, the S&P 500 closed 0.7% higher overnight. On the local market all ten sectors were stronger, adding more value to the 1.74% rise since Tuesday.

The ASX200 was up 0.8% shortly after the open and hit 1.68% in later afternoon trade.

Financial stocks led the market, with the major banks all stronger. Westpac was 1.79% to $32.96 and the NAB 1.46% .

The miners recovered from earlier falls, with BHP up 0.88% to 26.88. Fortescue Metals was up 1.91% to $1.865.

Pacific Brands shares were up 30% to $0.405 after raising profit guidance.

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