The Australian share market has closed higher, with a collective sigh of relief from investors after the Greek parliament approved that nation’s bail-out conditions.
“We’ve emerged from the dark clouds of Greece and China,” said IG markets strategist Evan Lucas.
“We were underperforming compared to international and Asian markets and approaching upcoming reporting season with pessimism, but in the past week investors have begun to get back in the market as it looks more attractive.”
Thursday was the third straight day of gains for the market, with some resurgence based on the rebound on Chinese markets.
That said, Woodside Petroleum shares tumbled 39 cents to $34.57 after plunging oil and gas prices almost halved revenue.
Woodside’s revenue slumped to $US898 million in the June quarter, from $US1.68 billion a year ago.
BHP Billiton shares recovered from losses incurred after Wednesday’s announcement that its full year earning would take a $2.8 billion hit, closing at up 18 cents at $27.08.
The big four banks all finished higher with Westpac up by 63 cents to $34.63 and Commonwealth Bank up by 84 cents to $87.97.
ANZ gained 22 cents to $32.64 and NAB found 54 cents to close at $34.32.
KEY FACTS
* On Thursday, the benchmark S&P/ASX200 index was up 33.4 points, or 0.59 per cent, at 5669.6 points.
* The broader All Ordinaries index was up 30.8 points, or 0.55 per cent, higher at 5649.8 points.
* The September share price index futures contract gained 29 points.
* The price of gold in Sydney at 1700 AEST was $US1,147.01 per fine ounce, down $US7.29 on Wednesday’s price of $US1,154.30.
* National turnover was two billion securities worth $5.2 billion.
