Australia’s unemployment rate unexpectedly ticked up to 5.1%, however the result failed to halt the market’s rebound, with some now expecting the RBA to cut rates in order to prop up the economy.
ANZ and Westpac led the gains among the big four, with both rising over 1%.
However it was another downbeat session for David Jones, which sank 6.4% after downgrading its 1H12 guidance.
Telstra’s better-than-expected profit result saw its shares pile on 5.7%.
The two mining giants ended the session weaker, with BHP down 1.2% and Rio Tinto declining 2.7%.
In the media space, Newscorp was a standout (+3.8%) after reporting a jump in its 4Q11 earnings.
The ASX 200 remained at 4141.