Australian shares rise on ECB deal: Afternoon market insights

The Australian sharemarket posted modest gains today, after the European Central Bank agreed to buy the bonds of distressed eurozone countries.

By 2.30pm, the ASX200 had gained 0.26% to 4324.1, while the broader All Ordinaries gained 0.35% to 4346.7.

The Australian dollar marched higher, buying $US1.03150.