Good week’s-end result

THE Australian sharemarket closed on a positive note yesterday, offsetting losses from earlier in the week.

The S&P/ASX 200 rose 47.70 points (0.94%) to 5123.40 while the All Ords gained 0.96% to close at 5115.2.

A computer glitch caused the Nasdaq market to shut down for three hours in the US on Thursday, halting trade on tech giants such as Apple and Google. Despite this major disruption, markets closed higher, with the Dow Jones up 66.19 (0.44%) at 14,963.74, the S&P 500 rising 14.16 (0.86%) to 16,56.96, and the Nasdaq climbing 38.92 points (1.08%) to 3638.71.

Europe's main stock markets reversed Wednesday’s losses amid positive Eurozone and Chinese economic data. London’s FTSE rose 56.03 (0.88%) to 6446.87.

Back home, markets lifted amid strong overseas leads and upbeat manufacturing data from China.

Sims Metal Management was the standout stock, firming $0.73 (8.19%) to $9.64 as investors approved cost-cut- ting measures.

Online employment company Seek Limited also performed strongly, rising $0.58 or 5.69% to $10.77.

Gaming stock Crown Ltd strengthened $0.76 (5.6%) to $14.34 despite its full year profit falling more than 20%.

BHP Billiton rose $0.27 (0.8%) to $35.64 as its executive team had their bonus pay-outs reduced reflecting falling shareholder returns.

The major four banks closed in positive territory led by Westpac up $0.47 (1.5%) to $31.47. CBA was up $0.79 (1.1%) to $72.05, ANZ advanced $0.14 (0.5%) to $29.64 and NAB rose $0.12 (0.4%) to $32.46.

Information: For the latest share prices visit www.asx.com.au. To speak to a wealth adviser phone 1800 789 789.