The sharemarket has closed higher, led by investors picking up cheaper mining stocks after heavy selling in recent days.
At the close today, the benchmark S&P/ASX200 index was up 15.1 points, or 0.29 per cent, at 5180.8.
The broader All Ordinaries index was 15.6 points, or 0.3 per cent, higher at 5159.8.
The market was still slightly lower for the week.
The mining giants were starting to look over-sold and had dragged the overall market up, said CMC Markets senior trader Tim Waterer.
However, he did not think it represented an overall trend, with nervousness about commodity prices still strong.
"It's just one day basically and commodities are still under pressure but a bit of confidence restored with the copper price although gold was weaker today," Mr Waterer told AAP.
BHP Billiton rose 65c, or almost 1.9 per cent, to $34.41, Rio Tinto rose 61c to $55.29 and Fortescue rose 6c to $3.51.
The gains were not broad-based.
The consumer staples sector traded in negative territory after Wesfarmers sharply downgraded its earnings forecast for its troubled department store Target.
Wesfarmers closed down $1.27, or 2.90 per cent, at $42.93 and Woolworths was also down, but not as adversely affected, falling 31c to $34.40.
Engineering giant WorleyParsons cut its profit guidance to between $320 million and $340m because of delays to major resources projects.
As a result its shares plunged $2.79, or 12.5 per cent, to $19.50.
The four major banks were mixed.
Commonwealth Bank rose 38c to $73.21, ANZ rose 40c to $30.26 and National Australia Bank rose 4c to $33.09.
However, Westpac fell 5c to $31.35.
On ASX 24, the June share price index futures contract was 19 points firmer at 5193 with 23,451 contracts traded.
National turnover was 1.47 billion securities worth $4.53 billion.
