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ASX up across board, led by energy sector

Derek Rose
The futures market is pointing to a rise in the ASX at the start of trade

The Australian share market has finished broadly higher with all sectors posting gains.

The benchmark S&P/ASX200 index was up 33.4 points, or 0.5 per cent, to 6,724.6 points at 1615 AEST on Tuesday, while the broader All Ordinaries was up 31.3 points, or 0.46 per cent, to 6,812.5 points.

"Today a more lively performance for the ASX200," said CommSec market analyst Tom Piotrowski.

Energy companies were the biggest gainers, up collectively 1.4 per cent as the price of oil moved up half a per cent on tensions in the Strait of Hormuz, with Iran seizing two oil tankers.

Woodside Petroleum was up 0.9 per cent to $33.95, Oil Search up 2.5 per cent to $6.95 and Origin Energy up 1.5 per cent to $7.69.

The big banks were mostly up, with NAB gaining 1.1 per cent to $27.86, ANZ up 0.2 per cent to $27.43 and Westpac up 0.3 per cent to $27.92. Commonwealth Bank was the outlier, falling 0.4 per cent to $81.55.

"You could make a case that there is a rotation out of CBA shares into NAB, now that they have resolved their leadership issues," Mr Piotrowski said.

The mining sector was subdued but recouped its early losses to close 0.1 per cent higher.

BHP was up 0.6 per cent to $41.58 and South32 up one per cent to $3.12, while Rio Tinto fell 0.4 per cent to $102.76 and Fortescue dropped 1.4 per cent to $8.78 after the price of iron ore dipped.

Gold miners had a mixed day after the price of the yellow metal dipped to US$1,417 an ounce, with Newcrest down 0.4 per cent to $33.77 but Evolution Mining up one per cent to $5.01.

Consumer discretionary shares were up 0.9 per cent, with Kogan.com gaining 4.8 per cent to $5.45 after the internet retailer said its second-half profit was up more than 12 per cent.

Harvey Norman gained 2.6 per cent to $4.43 while JB Hi-Fi was up 0.5 per cent to $29.77.

Domain Holdings was the biggest loser on the ASX200, down 6.2 per cent to $2.87 after a broker downgrade.

Aveo Group gained 3.3 per cent to $2.01 after the retirement home operator was making progress with its negotiations with Canada's Brookfield Property Group on a possible buyout.

The Aussie dollar is buying 70.21 US cents, from 70.34 US cents on Monday.

ON THE ASX:

* The benchmark S&P/ASX200 index was up 33.4 points, or 0.5 per cent, to 6,724.6 points at 1630 AEST on Tuesday.

* The All Ordinaries was down up 31.3 points, or 0.46 per cent, to 6,812.5.

* At 1630 AEST, the SPI200 futures index was flat at 6,658.

CURRENCY SNAPSHOT AT 1630 AEST:

One Australian dollar buys:

* 70.21 US cents, from 70.34 US cents on Monday

* 75.94 Japanese yen, from 75.92 yen

* 62.78 euro cents, from 62.70 cents

* 56.44 British pence, from 56.24 pence

* 104.31 NZ cents, from 103.91 cents.