Global sentiment has brightened considerably in recent days amid signs EU policy-makers are pressing ahead with plans to recapitalise troubled European banks.
Resource stocks paced the session’s gains following another big rise in commodity prices overnight; BHP climbed 2.5% and Rio Tinto put on 4.9%.
Westpac and NAB were strongest of the big four, advancing more than 3%% each.
A sharp increase in crude prices propelled the energy majors; Santos rose 3.6% whilst Paladin flew another 14%.
The ASX 200 jumped 93 points (+2.3%), settling at 4163.
For the week the market surged 3.8% – a huge gain when taking into account Monday’s triple digit plunge.