The ASX 200 has broken through 5400

The submarine USS Annapolis breaks through ice in the Arctic Ocean. Tiffini M. Jones/U.S. Navy via Getty Images

Australian shares surged higher again for the third day in a row, pushing through 5400 points on the ASX 200 index.

A short time ago, the index was at 5,420.40, up 32.31 points or 0.60%. The ASX last closed above 5400 in August last year.

The ASX 200 is up 3.2% this month.

Today the banks were higher but the big miners lost ground.

The ANZ bank was up 1.25% to $25.86 but Rio Tinto had lost 1.4% to $44.84.

Wall Street was quiet overnight, ahead of a long weekend, closing flat.

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