The Australian share market continued to climb today, gaining as much as 2%.
The benchmark S&P/ASX 200 Index finished 106 points up or 1.93% at 5608, while the broader All Ordinaries gained 100 points to 5645.80.
It was the miners which propelled the bourse today, which the banks had done yesterday, although the banks also did well.
ANZ gained 36 cents to $23.90, Commonwealth Bank added 99 cents or 2.2% to $45.28, Westpac gained 52 cents to $25.44, and National Australia Bank rose $1.24 to $31.74.
In local stocks, Asciano notified the market it had sold its large stake in Brambles and the proceeds will be used to retire existing debt. Shares in Asciano gained 17 cents or 4.13% to $4.29, while Brambles ended 15 cents down at $10.29.
Property fund manager, APN Property said it expects a lower net profit for fiscal 2008. Shares in the fund ended nearly 10% or 9 cents down at 85 cents.
The gold miners were up, Newcrest Mining rising $1.31 to $33.36, Lihir Gold adding 4 cents to $3.41 and Newmont Mining gaining 22 cents to $5.07.
Takeover business was again in the news, iron ore miner Territory Resources Ltd slamming an independent valuation of Olympia Resources in its battle to take over the mineral sands miner. Shares in Olympia slid 4.76% to 10 cents, while Territory was 0.5% up at 89.5 cents.
Retailers were up, David Jones putting 6 cents up at $3.78, Harvey Norman rising 7 cents to $4.04. Wesfarmers shed 31 cents to $39.34 and Woolworths gained 47 cents to $30.13.
In New Zealand, Freightways announced it is buying two businesses based in Melbourne and Canberra which will complement its business structure. Shares in Freightways (FRE:NZX) ended 1 cent up at NZ$3.54.
The New Zealand benchmark Index NZX50 closed 37 points or 1.04% up at 3,629.97.
