Australian stocks are up more than 2%.
A global rally, after the several session hammering from Britain’s vote to leave the European Union, was driving the local market.
In London, the FTSE added 3.6% and on Wall Street the S&P500 closed 1.7% higher.
The ASX 200 broke through the key 5200 point support level. A short time ago, the index was at 5,246.40, up 104.00 points or 2.02%.
The major banks and the big miners showed the way. The NAB was up 3% to $25.50 and BHP added 2% to $18.64.
Macquarie Bank, marked down because of its extensive business in the UK and Europe, was up 1.5% to $70.10.
Today is the last trading session of the financial year, with the market down about 4% over the 12 months.