As it happened: Best close in a month for ASX after 1.3% budget bounce

Summary

• After a weak morning, the ASX200 picked up to finish 1.3% higher at 6036.4, its best close since September 3
• Wednesday's rise means the index has notched three straight sessions of gains for the first time since early July. All sectors except materials were ahead with banks and consumer stocks strong
• Bank chief executives have welcomed the business-focused federal budget, saying it will help rebuild the battered economy, but senior economists have cautioned the government's outlook may be overly optimistic
• US futures were ahead by between 0.4% and 0.5% by 5pm AEDT