Aust stocks close at fresh six-year high
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The Australian sharemarket has set a six-year closing high for the third day running after investors cheered an upbeat production report from BHP and piled into resources stocks.
At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index gained 33.4 points, or 0.6%, to 5,576.7 points, while the broader All Ordinaries index was up 33 points, or 0.6%, to 5,567 points. The last time the benchmark closed higher was in June 2008.
CommSec market analyst Steven Daghlian said the local market was on its longest winning streak for two months, with all sectors improving.
"The mining sector is doing very well," Mr Daghlian said. "BHP released its quarterly production numbers and they were a bit better than the market was expecting.
"The world's biggest miner is trading around a five-month high."
The financials were also supporting the market, following more modest gains in bank shares recently, Mr Daghlian said.
Sentiment was also buoyed by strong US leads, after some co-operation between Russia and Ukraine over the downing of MH17 helped settle nerves, he said.
The materials sector was the best performer of the day, gaining 0.93%.
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