The Australian Share Market rose 1% higher today after strong overnight activity in the US and Europe.
At 2.30 today, the ASX 200 has risen 1.28% to 4176.20 while the broader All Ordinaries index has increased 1.21% to 4206.70.
Miners and energy stocks are among the best performers with BHP rising 2.32% to 30.88.
The dollar continues to rise and, at the time of publication, it was buying $US1.03905
Get business news first
Sign up to SmartCompany’s daily newsletter
The major announcement was news Jack Cowin is joining the Fairfax board. Cowin is the founder of Hungary Jack’s and advisor to Hancock Prospecting’s chairman: Gina Rinehart. The body representing Fairfax journalists has welcomed the announcement, but it has so far failed to rally investors. Fairfax’s shares fell 0.53% to 0.562.