At closing bell, the benchmark S&P/ASX200 advanced 35.52 points, or 0.53%, to 6,700.29. The broader All Ordinaries rose 44.60 points, or 0.64%, to 6,962.10.
US President Donald Trump signed a $900 billion economic aid package on Monday, helping to staunch uncertainty as governments reimpose pandemic-fighting travel and business curbs that threaten to weigh on global economic activity. The package also includes $1.4 trillion to fund government agencies, averting a federal government shutdown that otherwise would have started Tuesday.
Adding to cheer, Britain clinched a narrow Brexit trade deal with the European Union on Thursday, limiting the scale of disruption from the divorce. European Union (EU) nations have unanimously approve the post-Brexit trade deal with the United Kingdom, a prerequisite for the agreement to come into operation on New Year's Day. Germany, which holds the EU presidency, said the decision came during a meeting of EU ambassadors to assess the Christmas Eve agreement.
The British Parliament is expected to vote in a special sitting of parliament to approve the deal on Wednesday while the EU will adopt fast-track procedures for provisional application. Representatives of member states of the EU have agreed on the provisional application of the trade and cooperation agreement with Britain starting from January 1, 2021, Sebastian Fischer, spokesperson of the Permanent Representatives Committee for the German Presidency of the EU Council, tweeted around noon time on Monday. The free trade deal is the biggest bilateral trade deal signed by either side, covering trade worth around 668 billion pounds (about $905.4 billion). British Prime Minister Boris Johnson has said the post-Brexit trade deal is a new starting point for Britain and the European Union (EU).
Tech stocks were the top gainers for the day, with Afterpay rising 4.3%, was the top boost. Financials climbed, with the "Big Four" banks gaining between 0.4% and 0.9%. Energy stocks rose, tracking an uptick in oil prices on expectations of rising fuel demand. Sector heavyweight Woodside Petroleum added almost 1%.
CURRENCY NEWS: The Australian dollar changed hands at $0.76, having seen an earlier low of $0.7575.
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