The Australian sharemarket’s dramatic bounce continues, having its strongest day in almost 12 months thanks to a combination of peace talks in the Middle East and softer than expected domestic inflation data.
The benchmark ASX 200 rallied 154.90 points, or 1.85 per cent, to 8534.30, while the broader All Ordinaries climbed 174 points, or 2.03 per cent, to 8745.30.
Australia’s dollar continued to slide down 0.31 per cent to buy 69.73 US cents. On a strong day of trading, eight of the 11 sectors jumped.
Leading the gains was the materials sector, which rallied 4.29 per cent on lowering fuel costs.