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Evening Update - Tuesday 7 July, 2015

What a difference 24-hours can make. Yesterday the market slumped on the Greek vote, today the market rallied more than 100 points, recording it's best single session in five months. The leaderboard was lit up with green ink, with every sector recording a gain; industrials, financials, telcos and consumer discretionary stocks led the charge, with each sector adding more than 2%. They were supported by solid gains for property trusts, healthcare and consumer staples. The big four all jumped a minimum of 1.6%, with Westpac (WBC) the clear standout, putting on close to 4%. The big miners also advanced, despite iron ore prices slumping a further 5%+ overnight; BHP Billiton (BHP put on 0.9%, whilst rival Rio Tinto (RIO) gained 1.1% and Fortescue (FMG) jumped 4.1%. The big winner on the day was Qantas (QAN), which added nearly 8%. Other big winners included recently beaten down Myer Holdings (MYR), which tacked on 6.2%, and Aristocrat Leisure (ALL) which added 5.3%. All told, the ASX 200 surged 106 points (+1.9%) to settle at 5581.