The Aussie market gained ground today, despite mixed leads from Wall Street overnight.

Helping local sentiment was the latest GDP data showing the Australian economy expanding by 1% in the third quarter.

The result beat economists’ expectations of a 0.8% rise.

For the 12 months to September, GDP grew a seasonally adjusted 2.5%, which also came in well ahead of expectation of a 1.8% gain.

The big banks were amongst the best performers on the day; ANZ added 1.2% while CBA climbed 1%.

S&P downgraded its credit rating for Bank of Queensland while it upgraded its rating for Bendigo Bank.

Both regional banks seemed unfazed by the change in rating; Bank of Queensland jumped 2.4%, whilst Bendigo Bank soared 2.8%.

The major miners were also stronger, with Rio Tinto appreciating 1.1% and rival BHP added 0.8%.

The ASX 200 advanced 31 points (+0.7%), settling at 4293.

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Evening Market Analysis: Little Change is a post from: Australian Stock Report Market Pulse Blog