The local share market closed higher today in a broad-based rebound that clawed back some of yesterday's big losses.
The All Ordinaries closed up 0.75 per cent to 5,038 after rising as much as 1.5 per cent midway through trade.
The ASX 200 closed up 38 points to 5,018.
The banks led the gains, with Westpac ending up 1.3 per cent, taking back some of yesterday's sharp losses.
The major mining stocks were not so lucky, with BHP Billiton and Rio Tinto going into retreat late in trade.
Both finished close to 0.9 per cent down.
There was another slew of results out today, with Billabong one of the worst.
Its shares dropped 5.5 per cent after the company reported a $500 million loss for the half-year and cut its forecast for its annual result.
The surfwear maker blamed write-downs in the value of its assets.
Rising development costs dragged down profits at Australia's major oil and gas producer, Santos.
The company reported a 31 per cent slide in full year profit to $519 million.
But shares rose 1.2 per cent as investors focused on the increase in cash profit and the relatively positive outlook.
Crown Casino also opened its books today and blamed its slide in half-year profits on a change of gaming laws and poor consumer sentiment in Victoria.
From July last year Victoria banned ATMs from operating within licensed gaming venues.
Crown's profits dropped 34 per cent to $180.8 million.
The Australian dollar rose almost a cent today, buoyed Reserve Bank governor Glenn Stevens' upbeat assessment of the economy during testimony before the House Economics Committee in Canberra.
Shortly before 5:00pm (AEDT) it was buying 103.2 US cents, 78 euro cents, 67.4 British pence and 96.1 Japanese yen.
West Texas crude recovered to $US93 a barrel, Tapis dropped to $US119 and spot gold was at $US1,586 an ounce.