Aust stocks close higher

Local market lifts as investors cheer BHP update, ready for US employment data.

reased production guidance and prepared for United States employment data set for release tonight.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index was 0.4% higher at 5,373.1 points, while the broader All Ordinaries index increased 0.37% to 5,371.2 points.

Earlier this afternoon, the benchmark reached as high as 5,380.4 points, a fresh five-year intra-day high. 

CMC Markets analyst Betty Lam said materials, financials and tech stocks enjoyed a boost today.

"The local bourse operated with conviction and gusto over the trading session," Ms Lam said.

"One of the driving factors behind the ASX200’s excitable performance was BHP’s solid quarterly production numbers."

BHP increased full-year iron ore production guidance after posting a 23% increase in production in the September quarter, compared to the previous corresponding period.

"In afternoon trading, local stocks continued to lock in double-digit gains ahead of fairly significant employment data due out on Wall Street tonight," Ms Lam said.

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