As it happened: ASX rides economic hopes to near 10-month highs

Summary

• The ASX 200 rose 1.2% on Thursday to a new 10-month high of 6756.7. It was the market's best session this month so far
• Australia's jobless rate edged lower to a better-than-expected 6.8% in November as employment increased by 90,000 people to 12.9 million, and there was a 17,300 drop in unemployment to 942,100
• Democrats and Republicans are on the verge of agreeing on a financial rescue package that is expected to provide another round of stimulus cheques and a boost in unemployment payments. The final deal is expected to cost around US$900 billion ($1.2 trillion)
• Mining giant Rio Tinto has named chief financial officer Jakob Stausholm as its next chief executive officer