THE Australian share market closed one per cent higher, led by the big miners and major banks as investors set aside troubles from overseas and found value in the local bourse.
At 4.15pm AEDT, the benchmark S& P/ ASX200 index was up 47.2 points, or 1.01 per cent, at 4699.6, while the broader All Ordinaries index had climbed 47.7 points, or 1.00 per cent, to 4794.2.
On the ASX24, the June share price index futures contract was 52 points higher at 4722 points, with 19,787 contracts traded.
Austock Securities senior client adviser and strategist Michael Heffernan said there was ‘‘ good cheer all round’’ at the closing bell on yesterday.
‘‘ The theme of the week seems to be that investors are able to put aside negative events around the world as they realise the value in the Australian market,’’ Mr Heffernan said.
Local investors ignored news of spreading