The Australian share market edged higher on Tuesday as losses in health and consumer stocks were offset by gains from miners and energy producers.
The S & P/ASX200 rose 0.2 per cent to close at 6,856.9 points. The All Ords also climbed 0.2 per cent to 7,045.6 points.
Iron ore miners jumped after commodity futures rose one per cent on the Singapore Exchange’s November contract. Picture: AFP / Amy Coopes Following a rebound in global oil prices as Tel Aviv held off from an invasion of Gaza, energy stocks also climbed higher, up 0.4 per cent.Ampol climbed 1.2 per cent to $31.75 and Viva Energy increased four per cent to $2.84.Supermarket giants Coles dropped 0.9 per cent to $15.10 and Woolworths lost 1.3 per cent to $36.35.
Protective industrial equipment and medical gloves manufacturer Ansell dropped 1.2 per cent to $21.49 after its chief executive announced the demand and supply levels would likely retreat to pre-pandemic levels by next year. Rachel Yangoyan will replace John Gissing as the chief executive of Qantas Link. Picture: NCA NewsWire / James Gourley
Mr Waterer added that markets were closely watching fresh inflation data, to be released on Wednesday, to determine if the Reserve Bank would pursue any further monetary tightening.
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