The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has recovered nicely today, bouncing back above the 5,100 point mark on the back of improved offshore economic data as well as strong earnings results.
The benchmark index has piled on 57 points in morning trading – a rise which has been supported by a 7.4% increase in Crown (ASX: CWN) shares, following the announcement of a 14% gain in its FY13 underlying net profit.
Strength has also been seen in the mining and financial sectors, with BHP Billiton (ASX: BHP) recovering 1.3% of its value following four consecutive days of losses. Meanwhile, Fortescue Metals Group (ASX: FMG) continued where it left off yesterday after its announcement of a 12% increase in FY net profits. The shares are today up 3%.
Westpac (ASX: WBC) is leading the financial sector with its gain of 2%, while its top competitors NAB (ASX: NAB), ANZ (ASX: ANZ) and Commonwealth Bank (ASX: CBA) are all up between 0.4% and 0.8%.
The increases come in response to the 0.44% rise on the Dow Jones overnight.
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Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned in this article.
