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Another strong day for the Australian share market

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Published on: Friday, October 09, 2009

The local share market made strong gain on Thursday on the back of financial stocks and some shock unemployment data.
The ASX 200 finished up 72.9 points or 1.55 per cent at 4768.6.
The All Ords advanced 67.4 points or 1.44 per cent to 4763.3.
By industry, energy put on 41.4 points or 0.25 per cent, materials rose 100.7 points or 0.88 per cent, industrials gained 32.8 points or 0.87 per cent, financials were up 131.1 points or 2.71 per cent and utilities rose 44.4 points or 1.07 per cent.
Among the big four banks, NAB rose sharply by $1.33 or 4.43 per cent to $31.35, the Commonwealth Bank gained $1.67 or 3.26 per cent to $52.97 and ANZ rose $0.89 or 3.73 per cent to $24.74. Westpac made big news today when the New Zealand High Court ordered it to pay $NZ971 million in back taxes. Despite losing ground early, the stock surged late in the day to finish up $0.79 or 3.1 per cent to $26.30.
On the mining front, BHP Billiton gained $0.35 or 0.93 per cent to $38.16. Rio Tinto rose $0.55 or 0,91 per cent to $61.30. 
In Asia, the Hang Seng was up 82 points to 21,324. The Nikkei put on 25.6 points or 0.26 per cent to 9825.2.
Gold is trading at $US1,053.80 an ounce and the Australian dollar is sitting at US90.24c.

        


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