The rebound was sparked by news reports that French and German leaders were looking to beef up the European bailout fund to 2 trillion euros.
Financials drove today’s advance with the big four rising more than 1% each. NAB outperformed its rivals, up 1.5%.
BHP ended flat following a mixed 1Q production report, whilst Rio Tinto fell 1.8% amid plans to ramp up the development of its Simandou iron ore project in Guinea.
Elsewhere in the resources space, Gunns shot up another 9.3% after confirming it is still in discussions to sell off its pulp mill.
In the healthcare sector, CSL climbed 1.1% amid plans for a $900 million share buyback.
The ASX 200 added 27 points (+0.6%), closing at 4214.