End-of-day summary:
The recovery from the April market lows continued this afternoon as the ASX 200 booked a third straight weekly advance.
The Australian benchmark rose 27 points or 0.35% today to its sixth gain in seven sessions. The rally extended the index's total for the week to 120 points or 1.57%.
Overnight strength in oil and gold helped producers set the pace. The index's best performers included Beach Energy, Karoon Energy and Gold Road Resources. Woodside and Santos were the pick of the heavyweights.
Buying interest on Wall Street continued to improve overnight as a rise in claims for unemployment benefits pointed to the growing impact of higher interest rates on the labour market, widening the door to cuts later in the year. The Dow rose 0.85% to a seventh straight gain. The S&P 500 firmed 0.51%.
