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July 9th, 2013 
Peter Nolan
Posted
The Australian share market has rallied to a one-month high, with nearly every sector posting solid gains.
The All Ordinaries index rose by 1.4 per cent to close at 4,867 and the ASX 200 index advanced by 1.5 per cent to 4,882.
Bank stocks saw the largest gains, with the big four lenders all adding around 2 per cent.
The Commonwealth Bank was the weakest, but it still jumped 1.7 per cent.
Macquarie Group shares jumped nearly 5 per cent to close at $28.95 after analysts upgraded their rating for the company.
Shares in aluminium company Alumina rose by 3 per cent to $1.03 as its joint-venture company Alcoa kicked off the US earnings season with a better-than-expected second-quarter profit.
The company made $US76 million in the second quarter as car makers used more lightweight materials in their manufacturing.
The major miners also gained after a rise in metals prices overnight; BHP Billiton added 2.1 per cent to $31.61.
Australian coal miner Yancoal jumped by 4.33 per cent to 73 cents on the day it received a buyout offer from its Chinese parent company Yanzhou Coal.
If the conditional offer is accepted, Yancoal will be delisted from the stock exchange just a year after it was listed.
In economic news, the latest NAB monthly business survey showed conditions for businesses dropped to their lowest level in four years in June.
Conditions were the worst for retailers and manufacturers.
The Australian dollar jumped in evening trade as European currency markets open and around 5:30pm (AEST) it was buying 91.8 US cents, 71.3 euro cents, 92.9 Japanese yen and 61.3 British pence.
West Texas crude oil was slightly lower at $US103 a barrel, Tapis crude oil was worth $US112.55 a barrel, and spot gold rose to $US1,257 an ounce.
Topics:
markets,
industry,
business-economics-and-finance,
currency,
australia
Source Article from http://www.abc.net.au/news/2013-07-09/another-day-of-big-movements-on-local-market/4809636
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