The other catalyst for today’s gains was a better-than-expected September jobs report, which helped to allay fears of a domestic economic slowdown.
Resource stocks headlined the session’s gains, with BHP putting on 1.5% and Rio Tinto rising 2.8%.
Iluka was a standout (+9.6%) following a strong 3Q11 production report.
Among the financials, Bank of Queensland edged up 1.4% despite a 14% drop in its FY11 net profit.
All four big banks strengthened amid easing concerns over their exposure to Europe’s debt crisis; CBA advanced 0.3% whilst Westpac climbed 0.6%.
The ASX 200 added 40 points (+1%), settling at 4245.