Aust stocks close higher

Local market gains over 0.8% on stronger US data and easing Syria worries.

The Australian stock market closed higher today, supported by stronger than expected economic data out of the United States and easing Syria fears.

At 1615 AEST, the benchmark S&P/ASX200 index rose 0.84% to 5,135 points, while the broader All Ordinaries index lifted 0.83% to 5,125.3 points.

United States second-quarter economic growth came in overnight at an annual rate of 2.5%, faster than the original estimate of 1.7%.

IG analyst Stan Shamu said the local market was relatively flat for the week.

"This is not a bad result considering the political event risk that has dominated global markets all week," Mr Shamu said.

"The local market has managed to keep its head above the 5100 points mark in the main, even in the face of growing concerns over tapering in the US, investors fleeing emerging markets, the growing unrest in the Middle East and fears of a crash in China’s credit market and industrial production."

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