The Australian share market held on to a 20-month high today, with mining stocks leading the charge.
The All Ordinaries index added 0.3 per cent to 4,795, while the ASX 200 index jumped 14 points to 4,771.
Rio Tinto shares jumped 2.7 per cent as investors with iron ore boss Sam Walsh.
Mr Albanese's shock resignation came as the company revealed a $US14 billion writedown against its Mozambique coal and aluminium businesses after the market closed yesterday.
Also in focus for resources investors was official data showing with an annual growth rate of 7.9 per cent.
BHP Billiton gained 0.4 per cent and Fortescue Metals added 3.2 per cent.
The big four banks were mixed; NAB jumped 1.2 per cent and the CBA ended flat near its all-time high at $62.46.
The Ten Network was among the biggest losers, closing down 6 per cent.
Telstra was unchanged at $4.48.
Around 5.00pm (AEDT) the Australian dollar was down against the greenback, buying 105.23 US cents.
Spot gold prices were worth $US1,691 an ounce and West Texas Intermediate crude oil was up at $US95.49 a barrel.