Australian sharemarket rises above 5,000 points again

The Australian sharemarket has performed well this week, with yesterday marking the third time that it ended over 5,000 points.

Earlier this week was the first time this year that the index closed above this level, with the All Ordinaries shutting above 5,000 on Monday.

Meanwhile, yesterday saw the S&P/ASX 200 index close up 7.2 points to 5,001.9 and the All Ordinaries shut at 5,024.1 points.

Michael Heffernan, senior client adviser at Austock Securities, told AAP the good performance overseas has helped the market.

"We have come back a bit though, because we had such a great day yesterday – there are probably a few sharpies out there taking profits," he added.

The expert told the source that one particular performance was from the Macquarie Group, closing up $1.35 (£0.82).

Before close yesterday, the stockmarket was up 0.4 per cent in the early afternoon, with All Ordinaries increasing to 5,038.9 points.

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