Australia’s sharemarket has surged to nine-week highs on the back of strong commodity prices and a rebound in the heavyweight financials sector, lifting the leading indices.
The S&P/ASX200 gained 62.6 points on Tuesday, up 0.71 per cent, to 8,822, as the broader All Ordinaries advanced 58.6 points, or 0.5 per cent, to 9,138.5.
Only four of 11 local sectors ended the session higher, but solid gains in the materials and financials sectors launched the market to its best day of the year so far.
The Australian dollar was buying 67.11 US cents, up from 66.98 US cents on Monday at 5pm.