At closing bell, the benchmark S&P/ASX200 was up 22.80 points, or 0.31%, to 7,387.57. The broader All Ordinaries index added 24.93 points, or 0.32%, to 7,707.49.
The top performing stocks in this index were MAGELLAN FINANCIAL GROUP LIMITED and NICKEL MINES LIMITED, up 5.17% and 4.73% respectively. The bottom performing stocks in this index were BEGA CHEESE and WISETECH GLOBAL, down 10.3% and 2.57% respectively.
Shares of Gold explorers were among the top gainers in the bourse on the back of a surge in bullion prices. Newcrest Mining rose 0.8%, while Northern Star Resources jumped more than 2%.
Bega Cheese shares tumbled after the company warned of a hit to its 2022 fiscal earnings from strong competition for dairy supply in Australia, high global prices and the coronavirus impact.
ECONOMIC NEWS: Australia Private Sector Credit Climbs 0.9% On Month In November - Australia private sector credit was up 0.9% on month in November, the Reserve Bank of Australia said on Thursday, accelerating from 0.5% in October. On a yearly basis, credit spiked 6.6%, rising from 5.7% in the previous month. Housing credit was up 0.7% on month and 7.1 on year, while personal credit rose 0.6% on month and fell 3.5% on year and business credit climbed 1.6% on month and 7.3% on year. Broad money was up 0.9% on month and 8.3% on year.
CURRENCY NEWS: The Australian dollar was at $0.7231, continuing its upward trek after yesterday's surge from around $0.712.
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