Australian stocks rally on the back of the banks

Australia’s Deborah Acason in the Women’s +75kg Group A at Clyde Auditorium during day seven of the Glasgow 2014 Commonwealth Games. Ryan Pierse/Getty Images

The Australian market is rallying on the back of stronger bank stocks.

The market also saw as positive the February jobs data showing a slight fall in the unemployment rate to 6.3%.

The financial sector is up 1.25% across the board. All the banks were stronger by more than 1%, led by Westpac up 1.59% to $38.095. AMP was up 2.21% to $6.695.

The miners were slightly weaker. BHP was down 0.53% to $30.17.

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