Following solid gains in the US markets overnight, the Australian stock market made further gains on Friday – gaining 4% by the end of the day.
The benchmark S&P/ASX 200 Index added 279 points or 5% to 5860.30, while the All Ordinaries also added 5% to 5886.30.
Recovering all of the week's last ground it was pushed up by resource stocks and finance companies.
BHP Billiton rose $1.62 to $36.44, whilst its takeover target Rio Tinto added $8.92 to $117.38.
Top four banks made strong gain; Commonwealth Bank of Australia gained $2 to $52.75, National Australian Bank rose $2.35 to $36.10, ANZ grew $1.10 to $27.13 and Westpac added 99 cents to $26.59.
