At closing bell, the benchmark S&P/ASX200 advanced 63.43 points, or 0.87%, to 7,320.09. The broader All Ordinaries index rose by 66.14 points, or 0.88%, to 7,617.32.
The top performing stocks in this index were CHALICE MINING LIMITED and HUB24 LIMITED, up 7.36% and 5.72% respectively. The bottom performing stocks in this index were EML PAYMENTS and CLINUVEL PHARMACEUTICALS, down 14.6% and 3.5% respectively.
Shares of materials and resources climbed up, with BHP Group up 3%. Fortescue also posted gains of up 2.4%. Mineral Resources rose more than 1%. Rio Tinto was higher by almost 3% and OZ Minerals added more than 2%.
Energy stocks also finished ahead after oil futures rebounded on Thursday, with Oil Search and Woodside Petroleum up 0.2% each, while Origin Energy and Santos gained almost 1% each. Beach energy added more than 1%.
ECONOMIC NEWS: The total number of building permits issued in Australia was up a seasonally adjusted 6.8% on month to 18,716 in August, after the 8.6% contraction in July, according to the Australian Bureau of Statistics data released on Friday. On a yearly basis, building permits were up 31.2%. The total value of building approvals was up 20.3% on month in August.
CURRENCY NEWS: The Australian dollar changed hands at 0.7309, strengthening sharply following earlier levels of around 0.726.
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