ASX enjoys strong week as commodity rally continues

Vanessa Desloires and Jessica Sier

Updated Nov 25, 2016 – 5.09pm, first published at 8.27am

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The sharemarket burst through the 5500 level to the highest in three months, as the rally in commodity prices continued amid optimism surrounding President-elect Donald Trump and next week's OPEC meeting.

The Friday session lacked direction early after Wall Street closed for the Thanksgiving Holiday, but ultimately pushed higher, with the S&P/ASX 200 Index ending 0.4 per cent higher at 5508, up 2.8 per cent for the week. The All Ordinaries ended 0.4 per cent higher at 5570.5, up 2.6 per cent for the week.

Vanessa Desloires writes on markets from our Melbourne newsroom.

Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics.