The S&P ASX200 has had its biggest weekly gain since April after closing up 63 points at 5265.2 today.
The index is up 3.3% for the week, thanks in large part to the Fed’s decision to reduce quantitative easing in the US on Wednesday night.
Via investing.com, here’s what happened today:
CommSec’s Tom Piotrowski reports the banks continued to push the market higher, with the bank of Queensland up 2.4%, Bendigo Bank up more then a per cent and ANZ performing best out of the big four, lifting 2% to $31.78.
Gold stocks experienced a huge turnaround this afternoon after being marked down quite severely, with St Barbara mines up 6% and Newcrest up 5%.
The Australian dollar ended the day’s trade at $US88.72.