Miners lead Australian shares higher as copper lifts
By Adrian Black
Resurgent resources stocks have helped lift the ASX to a third session of gains. -AAP Image
Australia's share market has overcome a shaky start for a second straight session, after renewed hope in the artificial intelligence trade buoyed copper miners.
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The S&P/ASX200 gained 40.2 points on Tuesday, up 0.46 per cent, to 8850.1, as the broader All Ordinaries rose 42.2 points, or 0.47 per cent, to 8968.8.
Mega miners BHP and Rio Tinto offered major support, rallying after copper prices lifted on Anthropic's initial public offering listing, which would value the AI trailblazer at $US1.5 trillion ($A2.1 trillion).
Adding to broader market confidence, oil prices have continued to ease from their pre-weekend peak on hopes the US and Iran could yet find a diplomatic solution to a conflict that has roiled global energy markets.
The Australian dollar is buying 70.20 US cents, down from 70.27 US cents on Monday at 5pm.
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