The Australian stock market has gained momentum after experiencing losses for three sessions, with share prices of major energy and financial companies trending up.
The benchmark S&P/ASX200 index went up 92.7 points, or 1.42 percent, to 6,632.6 at 1200 AEST on July 4.
At the same time, the All Ordinaries index, which tracks the 500 largest companies listed on the Australian Stock Exchange (ASX), increased 94.9 points, or 1.41 percent, to 6,815.3.
The gains came following a solid session on the New York Stock Exchange on July 1, with all three main indices ending higher ahead of the July 4 public holiday.
The financial sector led the gains in the ASX as the stock prices of the Big Four banks–Commonwealth Bank of Australia, ANZ, Westpac and National Australia Bank–climbed by 1.8-2.3 percent….