Local investors have run with the bullish leads provided by The Street overnight, with nearly all sectors showing strong gains.
In company news, Computershare reported full-year results this morning, recording a 10% decline in annual profit. The stock traded as much as 3% higher following the release but has since traded back towards breakeven.
In economic news, consumer sentiment has fallen further into negative territory amid concerns about the state of the global economy, interest rates, housing prices and the proposed carbon tax.
The Westpac-Melbourne Institute fell by 3.5% in August, from 92.8 to 89.6.
Around the region, Asian markets are also enjoying solid gains; the Hang Seng is up 3.8% and the Shanghai Composite is 2% higher.