Aust stocks extend gains at noon

The Australian stock market increased gains at noon, soaring as fresh data signalling growing strength in the US economy diverted attention from spreading fears of a China cash squeeze.

The Australian stock market increased gains at noon, soaring as fresh data signalling growing strength in the US economy diverted attention from spreading fears of a China cash squeeze.  

At 1205 AEST, the benchmark S&P/ASX200 index increased 1.66% to 4,733.4 points, while the broader All Ordinaries index added 1.62%, to 4,708.7 points.

Resources stocks led the market, with the major miners surging higher.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free