AUSTRALIAN STOCKS ON A TEAR: Here's what you need to know

Adam Scott of Australia tees off during a practice round ahead of the 2015 Australian Masters in Melbourne. Quinn Rooney/Getty Images

Australian stocks closed sharply higher.

Here’s the scoreboard:

  • S&P ASX 200: 5,118.20 +114.38 +2.29%
  • All Ordinaries: 5,174.30 +109.81 +2.17%
  • AUD/USD: 0.7088 -0.0009 -0.13%

The market quickly clawed back Monday’s 0.94% fall and kept going to record the biggest one day gain since August 25.

All ten local sectors gained ground as investors followed the lead of Wall Street where the S&P 500 added 1.5%.

Energy stocks were up 3.7% as a group on the back of a rise in oil prices. Santos strengthened 5% to $4.34 and Woodside Petroleum added 2% to $29.40.

The major banks were higher, led by the Commonwealth, up by 3% to $77.07.

Worley Parsons, a resources industry service company, was up 6.4% to $5.88 after appointing a new finance chief, former Transurban executive Tom Honan.

Greencross Limited, a veterinary services and pet product business, closed up almost 10% to $6.30. There was no news to explain the rise.

The top stories Tuesday:

1. Investment-grade. Standard & Poor’s returns Qantas to BBB- from BB+. Its shares closed up almost 6% to $3.76.

2. The rise of vitamins. Around half of Blackmores sales are being driven by the China grey market. Its shares gained 5% to $174.72.

3. Profit guidance on infant formula sales. A2 Milk gets a boost from China. Its shares closed up 4.7% to $0.88.

4. Driving growth. The RBA minutes just made a great case for Australia’s continued economic recovery.

5. A bigger US footprint. Ainsworth buys a US pokie machine manufacturer. It closed down 6.4% to $2.90.

6. $3.5 billion in the bank. Westpac has closed its capital raising by selling shares not taken up by retail investors at a premium. Westpac was up 1.9% to $30.60.

7. Turning research into a commercial project. Bill Ferris, founder of Australia’s first venture capital company, is the new chair of Innovation Australia

8. A big rise in deaths from deaths from terrorism. The deadly rise of terrorism in the 21st century.

9. It’s not too late. The 6 biggest financial mistakes people make in their 50s.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.