Bourse strikes back

THE local market recorded its biggest one-day gain in more than four months on the back of better-than-expected news over the plight of the United States financial sector, while most resource stocks ended today’s session in positive territory.

The benchmark S&P-ASX 200 index climbed 171.4 points (3.5%) to close at 5011.8, while the broader All Ordinaries index closed up 160.1 (3.3%) at 5075.4.