Australian stocks climb to the highest level this year

Jonathan Griffith / Getty Images
  • Australia’s ASX 200 Index has risen to the highest level since early September on Tuesday.
  • Gains are being recorded across all sectors except for gold producers. Energy is leading the charge following a 3% surge in crude oil futures on Monday.
  • The giant resources and financial sectors are also up 0.75%.

Australian stocks jumped as trade resumed following the Easter break, climbing to the highest level since early September in thin trade on Tuesday.

The benchmark ASX 200 Index hit a high of 6311.1 in early trade, helped by strong gains across all sectors except for gold producers.

It currently trades just below that level at 6303.9, extending the bounce from late December last year to 16.6%.

Investors may soon start eyeing a re-test of decade-high of 6373.5 struck in August last year.

Investing.comASX 200 Daily Chart.

Gains are led by the energy sector, following a sharp 3% rally in crude oil futures on Monday that was sparked by news that the United States has decided to cut all waivers for nations currently receiving Iranian crude exports.

The ASX 200 Energy sector sits up 2%.

Elsewhere, utilities and information technology are up 1.4%, while the large resources and financial sectors have also risen by 0.75% apiece.

Trading volumes are predictably low, reflecting that many Australians remain on holidays ahead of ANZAC day on Thursday.

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