Stocks opened brightly following Apple’s monster profit result, and held on to their gains despite today’s CPI data dampening expectations of a rate cut next month.
The big four banks were the key contributors to the market’s gains; CBA and Westpac jumped 2.4% and 3.5% respectively.
The major miners were mixed, BHP put on 0.9%, whilst rival Rio Tinto was flat. Fortescue shed 1.2% on the day.
Gloucester Coal (-1%) posted a jump in December quarter production from the previous year, but said sales volumes were down amid weaker overseas coking coal demand.
Industrial distributor Alesco Corporation was one the best performers in the broader market, soaring 7.3% after releasing a half year result that was in line with expectations.
The ASX 200 climbed 47 points (+1.1%), settling at 4271.