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Aust stocks close stronger

Investors regain confidence on resolution to US budget crisis, push market higher.
By · 18 Oct 2013
By ·
18 Oct 2013
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The Australian stock market closed higher as resolution of the United States budget crisis boosted investor confidence.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index rose 0.73% to 5,321.5 points, while the broader All Ordinaries index increased 0.74% to 5,321 points.

IG analyst Stan Shamu said the week worked out well for those with a bullish view.

"Asian equities are enjoying a strong finish to the week as investors get involved in markets again after the US fiscal situation was finally resolved," Mr Shamu said.

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