Aussie stocks finished 3.7% higher today following an interesting day on the markets, with a flurry of activity on all fronts.
The benchmark S&P/ASX 200 Index opened at the low of 5127 as investors were still trying to make sense of all that has happened in New York, with JP Morgan and Bear Sterns grabbing most of the headlines after the bid for Sterns was increased 5-fold, from US$2 per share to $US10 per share.
The benchmark then rose higher following the strong leads from the Dow, the S&P and Nasdaq, which were also fuelled by a rise sales of existing homes in the US. It finished at 5318.40, an increase of 190 points or 3.7%.
The broader All Ordinaries index rose 171 points or 3.3% to 5353.50.
The Australian dollar fell under US90 cents earlier in the day but rose in the afternoon, trading at around US91.25 cents.
After reaching a record high of $US1030.90 an ounce on Monday last week, gold has fallen since, trading around US$924.10 at 4pm AEDT today.
Crude oil for May delivery last traded at US$100.36 a barrel on the New York Mercantile Exchange at 4.15pm AEDT after it was trading more than US$106 a barrel earlier in the month.
In local stocks, Leighton Holdings closed 8.8% higher after it had secured a $795million oil project in India.
Sigma Pharmaceuticals rose 4.5 cents or 3.6% tp $1.27 on the back of a positive outlook in the group’s annual results today.
All major banks were up today, with the Commonwealth Bank gaining $3.26 or 8.3% to $42.56, ANZ rising $1.39 or 6% to $24.32, Westpac up 82 cents or 3.4% to $24.92, National Australia Bank up $1.59 to $30.70 and St George Bank adding $1.75 to $27.85.
BHP Billiton was up at 54 cents at $34.41, and Rio Tinto added 71 cents to $117.
