Australian shares surge as banks, miners charge higher
By Adrian Black
The ASX is trading near record highs as investors bet on a positive earnings season. -AAP Image
Australia's share market is narrowing on its record high as easing oil prices and confidence in a strong earnings season for heavily weighted sectors bolster risk sentiment.
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The S&P/ASX200 gained 126.5 points on Tuesday, up 1.4 per cent, to 9,145.8, as the broader All Ordinaries rose 133.5 points, or 1.45 per cent, to 9,311.9.
The top 200 ended the session roughly 57 points short of its March record high, which preceded a more than 10 per cent correction after the US-Iran conflict plunged global energy markets into chaos and hammered growth hopes.
Ten of 11 local sectors rallied, with strong performances from banks, miners and technology stocks despite oil prices edging higher as Iranian officials denied US claims they were in peace talks.
The Australian dollar is buying 70.18 US cents, down from 70.27 US cents on Monday at 5pm AEST.
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