Australia market renounces on bargain buying

The Australian share market closed higher for the first time in three consecutive days on Friday, 29 May 2015, as investors snapped up beaten-down stocks, with lenders and resource-related stocks leading rally. The benchmark S&P/ASX 200 Index added 64.10 points, or 1.12%, to 5777.20, while the broader All Ordinaries Index jumped 60.30 points, or 1.06%, to 5774.90. Market turnover was relatively healthy, with 2.8 billion shares changing hands worth of A$7.5 billion. For the week, the All Ordinaries was up 1.9% while the S&P/ASX 200 index climbed 2%.

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