Australian Stocks Rally: Here's What You Need To Know

Australian stocks closed higher. Today’s scoreboard: ASX 200: 5,713.10 +40.48 +0.71% All Ordinaries: 5,775.10 +35.65 +0.62% AUD/USD: 0.8043 -0.0012 -0.15% The major banks carried the local market at the start of a new week, with the ASX200 breaking above the key 5700 point. The ANZ Bank was up 2.1% to $29.48 and Westpac 1.7% to $31.33. Among the miners, Rio Tinto dropped 1.4% to $67.53 and BHP 1.8% to $26.80. Shares in a2 Milk jumped after the infant formula maker re-affirmed its outlook for strong growth.

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