Aussie shares back in black for the year
The Australian share market is back in the black for 2014 and on track for a seventh consecutive day of gains.
The current rally has enabled the ASX200 to climb back above the 5,352 point level it started January 1 at, following a dive of close to 10 per cent in September.
Gains on Wednesday were driven by the miners.
Speculation about broader monetary stimulus from the European Central Bank had boosted markets and underlying commodity prices, said IG market strategist Evan Lucas.
"It is interesting though that banks are slowing down a bit ... with the current rally now seven days in a row you tend to get questions about how much further up we can go," he told AAP.
Among the big miners, BHP Billiton climbed 47 cents, or 1.4 per cent, to $34.22, after it said in its latest production report that it was on target to hit 16 per cent production growth over two years.
Rio Tinto climbed $1.08, or 1.8 per cent, to $61.05 and Fortescue Metals was 8.5 cents higher at $3.635.
Energy companies rose after an oil price jump, with Santos up 21 cents, or 1.6 per cent, at $13.01, while Woodside Petroleum gained four cents, or 0.1 per cent, to $39.72.
Commonwealth Bank added 22 cents to $77.40, Westpac gained 31 cents to $33.72, ANZ rose 37 cents to $32.84 and National Australia Bank lifted 25 cents to $33.25.
KEY FACTS
At 1225 AEDT on Wednesday, the benchmark S&P/ASX200 index was up 45.5 points, or 0.85 per cent, at 5,370.5 points.
The broader All Ordinaries index was up 45.5 points, or 0.86 per cent, at 5,358 points.
The December share price index futures contract was up 44 points at 5,355 points, with 15,328 contracts traded.
National turnover was 734 million securities worth $1.5 billion.
