Good gains in Australian stocks

The Australian stock market ended sharply higher on Thursday as steady global cues boosted sentiments. Local economy related newsflow also helped. Markets recouped some of the hefty losses in the last two sessions amid mixed cues from US markets. The benchmark S&P/ASX 200 saw good upmove with gains across most sectors. Good upside were seen in miners and technology stocks. The S&P/ASX 200 index added 0.6% to close at 7,763 points. On economic front, Australia's unemployment rate slipped to 4 per cent in May, with the Australian Bureau of Statistics noting the labour market remains "relatively tight".

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