CHART: Santa Rally Has Pushed The ASX Up 1.2% Today For Its First Weekly Gain This Month

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, 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.

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