Aussie shares were lifted today thanks to positive commodity prices and the stronger overseas markets overnight.
The benchmark S&P/ASX200 Index added 63 points or 1.18% to 5,381.40, whilst the broader All Ordinaries put on 65 points to 5,421.
The big miners all rose, BHP Billiton rose 90 cents or 2.6% to $35.31 while Rio Tinto gained $1.27 or 1% to $118.27.
Troubled financials Allco and ABC were once again in the spotlight.
Allco Finance Group added 28% to 54.5 cents despite a statement from listed litigation funder IMF saying it will fund shareholder class actions against four Australian fund managers that hit trouble after the global credit crisis emerged last year.
In contrast, ABC Learning Centers, fell slightly as doubts persist about its future. Shares were 10 down at $1.335.
Energy and gas distributor SP AusNet forecast a 15 per cent increase in earnings for next financial year following improved regulatory ruling and savings on interest through debt refinancing.
Shares in Sp Ausnet rose 3.7 cents or 4.5 cents to $1.25.
In the media, Macquarie Radio surged 41.6% to 85 cents. Other media stocks were mixed, with News Corporation losing 7 cents to $21.33.
Consolidated Media Holdings rose 3 cents to $3.67.
Finance sector was subdued following strong rises in recent days. Three of the big four banks were down, with ANZ losing 21 cents to $24.12, and NAB falling 25 cents to $30.35, whilst CBA gained 66 cents to $43.11 and Westpac remained unchanged at $24.80.
Upmarket retailer David Jones posted a 25.2 per cent increase in first-half net profit and reaffirmed its profit guidance for the second half. Its shares lifted 17 cents to $3.71.
Woolworths added 10 cents to $29.37, and Coles-owner Wesfarmers gained 69 cents to $38.68.
The spot price of gold was $US941.10 per ounce.
At the smaller end of the market, the biggest mover was Western-Australian oil explorer Sunset Energy which said it has made a potential oil discovery at its Maricope Project in California.
Shares surged 58% to 28.5 cents after the stock came out of a one day trading halt.
