The Australian Market Leaps To A Positive Close

Getty/Cameron Spencer

The Australian market climbed higher on the back of good news from Wall Street.

The US Fed’s meeting minutes re-assured markets that interest rates will remain steady and that sent the S&P 500 index 1.75% to 1,968.890.

In Australia, the local market was at one stage up more than 1.5%, the sum of its falls this week, but eventually closed up 1.06%.

The banks returned strongly with Westpac up 1.83% to $32.87, the ANZ 1.21% to $32.54 and the Commonwealth 1.77% to $76.35.

The NAB was also up, despite alerting to market to more than $1 billion in writedowns and a fall in earnings, was up 1.21% to $32.54.

The S&P/ASX 200 closed up 1.06% or 55.43 points to 5,296.70.

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