Flight Centre surged 8.1 per cent as it returned to trading, and the big miners advanced as iron ore prices hovered at a seven-month high.
A bumper session by Flight Centre led the Australian sharemarket to a nine-month high on Wednesday ahead of another expected interest rate increase by the US Federal Reserve.
Flight Centre said it has successfully completed the $180 million institutional placement to fund the acquisition. The company also aims to raise as much as $40 million in a share purchase plan.P/ASX 200 climbed 0.3 per cent, or 25 points, to 7501.7, its highest closing level since last April. The broader All Ordinaries index firmed a similar amount to 7709.7.
The local materials sector rose 0.7 per cent as iron ore futures in Singapore hovered around a seven-month high at $US127.25 a tonne. Champion Iron climbed 3.2 per cent to $7.38, BHP firmed 0.3 per cent to $49.55, Fortescue Metals Group added 0.4 per cent to $22.33 and Rio Tinto advanced 1.4 per cent to $128.43.
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