Local share market boosted by Ukraine ceasefire, Greek bailout
The Australian share market surged 2.3 per cent today after news of a ceasefire in Ukraine and a deal over Greece's bailout.
The local market briefly touched its highest level in six-and-a-half years.
The All Ordinaries closed up 128 points at 5,836, and the ASX 200 rose 134 points to 5,878.
Shares were up across the board with the mining and energy sectors leading the way following a rise in the price of oil and other key commodities overnight.
Rio Tinto put on 6.5 per cent to $63.79 following news that it is planning a $US2 billion share buyback.
BHP Billiton was up almost 5 per cent at $32.17 cents a share.
Newcrest Mining was one of the few that lost ground. It closed 1 cent lower after announcing it will not pay an interim dividend, despite posting a 400 per cent jump in first-half profit.
Sims Metal shares soared 10.5 per cent after the company delivered a strong lift in interim profit.
In the energy sector, Origin put on 5 per cent, Santos was up more than 4 per cent, and Woodside rose 4 per cent.
Beach Energy's shares jumped 3.7 per cent after it flagged a $166 million writedown due to falling global oil prices.
Automotive Holdings rose 2.7 per cent after posting a record first-half profit.
The big four banks were all more than 2 per cent higher. Telstra put on 2 per cent to $6.59.
Around 5:00pm AEDT the Australian dollar was buying 77.82 US cents, 68.1 euro cents, 50.49 British pence, 92.25 Japanese Yen, and $NZ1.04.
West Texas intermediate crude oil was at $US51.12 a barrel, Tapis crude oil in Singapore was worth $US60.70 a barrel, and spot gold was trading at $US1,227 an ounce.
