Despite a horrible lead from Friday night, the Aussie market rallied strongly all day to end in the green – snapping a three-session losing streak in the process.
A 1% jump in BHP Billiton (BHP) led the market higher, along with a strong 4.5% jump in Westfield, which may have been buoyed by strong earnings by US bellwether Simon Property Group.
Newcrest (NCM) also had a good day, jumping 4.5%, as the gold price hovered just below $US1100 an ounce, not falling any further after last week’s sharp selloff.
The big banks were flat to slightly higher, with Westpac (WBC) the best in show, putting on 0.4%, while Telstra (TLS) added 0.5%.
On the day, the ASX 200 put on 24 points (+0.4%) to settle at 5590.