The share market has posted a fourth straight day of gains to hit its highest level since late August.
Energy and financial companies drove Friday’s gains, including Woodside Petroleum, Origin Energy and National Australia Bank.
The benchmark S&P/ASX 200 index gained 0.3 per cent higher following record gains on Wall Street.
Patersons Securities economist Tony Farnham said there was “good support” for financial stocks following a rally in US and European financial stocks after the European Central Bank said it will extend its bond-buying program until at least December 2017.
“That fed through to us a bit,” he said.
Westpac’s annual general meeting produced no suprises, just the “usual cautiousness”, Mr Farnham said.
Commonwealth Bank, jumped 94 cents to $80.67, ANZ rose 39 cents to $29.92, National Australia Bank added 37 cents to $29.69 and Westpac rose 15 cents to $32.28.
A rebound in oil prices ahead of a meeting between OPEC and non-OPEC members over the weekend helped Woodside Petroleum, Origin Energy and Santos gain further ground, Mr Farnham said.
Woodside jumped 71 cents to $30.59, Origin rose 10 cents to $6.55 and Santos gained three cents to $4.30.
Investors dumped Sirtex Medical after a profit warning from the cancer treatment developer, triggered by disappointing sales.
Sirtex shares plunged as much as 52 per cent in early morning trade, before closing $9.49 lower, or 37 per cent, at $16.00.
Crown Resorts dropped 64 cents, or 5.3 per cent, to $11.40, amid media reports authorities in Macau are planning to tighten ATM withdrawal limits in a bid to gain greater control over money flowing out of China and into the Macau gaming sector.
KEY FACTS:
* The benchmark S&P/ASX 200 index gained 17 points, or 0.31 per cent, to 5,560.6 points.
* The broader All Ordinaries index rose 16.8 points, or 0.3 per cent, to 5,615.8 points.
* The December share price index futures contract was up 18 points at 5,559 points, with 36,059 contracts traded.
* National turnover was 2.9 billion securities traded, worth $6.3 billion.
