The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has posted another gain today, rising 0.85% to close at levels last reached in mid-2008. The local gains follow strong leads from US markets. Overnight the Dow Jones rallied 1.4%, while the S&P 500 jumped 1.5%, after investors' concern over the stand-off between Russia and Ukraine eased.
In domestic economic news, the Australian Bureau of Statistics released gross domestic product (GDP) figures for the December quarter which showed that the Australian economy grew 0.8% in seasonally adjusted volume terms. The GDP growth was driven by a 0.6% contribution from net exports and a 0.4% contribution from final consumption expenditure.
Most sectors rose with only the telecom, property, and gold sectors recording declines.
Here are the top five best performing stocks in the index today.
- Paladin Energy Ltd. (ASX: PDN) gained 11.9% to 56.5 cents
- PanAust Limited (ASX: PNA) rose 5.8% to $1.83
- Sirtex Medical Limited (ASX: SRX) climbed 5.7% to $15.68
- Sirius Resources N.L. (ASX: SIR) added 5.5% to $2.51
- CSR Limited (ASX: CSR) closed up 4.5% to $3.25
These stocks were the losers on the day.
