Australia's share market has ripped higher on the back of easing oil prices following signs the US conflict with Iran could be winding down, softening the global inflation outlook.
The S&P/ASX200 gained 99.3 points on Tuesday, up 1.1 per cent, to 9129, as the broader All Ordinaries advanced 104.4 points , or 1.14 per cent, to 9267.8.
The move echoed a strong session on Wall Street overnight, as investors piled back into risk assets after weeks of fear and volatility.
"It is a broad rally on improved investor sentiment, albeit a short-term trend for now," Betashares investment strategist Tom Wickenden said.
"After the volatility of the past fortnight, today shows how quickly sentiment can turn when the lead from Wall Street changes."
Interest rate-sensitive sectors led the gains locally, with strong moves from real estate, industrials and consumer cyclical stocks, while the heavyweight financial and basic materials segment also charged higher.
Brent crude has fallen to $US91.50 a barrel as fears of a US military escalation in its Iran conflict continue to soften, despite ongoing attacks between Saudi coalition forces and Houthi rebels.
Still, energy stocks moved 0.5 per cent higher as both coal and uranium miners continued their uptrend, while Woodside and Santos edged either side of break-even and refinery operators Ampol and Viva rebounded from Monday's sell-off.
BHP and Rio Tinto shares crept higher to $59.87 and $152.84 respectively, despite copper prices inching lower over the session, while rare earths producers continued their recent push higher.
Gold stocks provided major support as the precious metal traded at $US4120 ($A5950) an ounce, taking the sub-index almost 16 per cent higher compared to a week ago.
The major banks were broadly higher, despite NAB falling for a second session, while CommBank was the best of the big four with a 1.8 per cent lift to $168.99 after hitting a three-month high during the session.
In company news, Qantas shares rallied after announcing it would outsource 850 office jobs in a deal with Accenture as part of a major IT systems overhaul.
Life360's value plummeted by more than 15 per cent despite the location tracking app growing its first quarter revenue 40 per cent on the same time in 2025 and growing its user base by 5.3 million over the three months to 107.7 million.
Consumer confidence has hit a four-year low according to Westpac and the Melbourne Institute's monthly survey, with the Reserve Bank's latest interest rate hike and a subdued economic outlook weighing on the result.
The Australian dollar is buying 69.26 US cents, up from 68.88 US cents on Monday at 5pm AEDT.
ON THE ASX:
* The S&P/ASX200 rose 99.3 points, or 1.1 per cent, to 9129
* The broader All Ordinaries gained 104.4 points, or 1.14 per cent, to 9267.8
One Australian dollar trades for:
* 69.26 US cents, from 68.88 US cents on Monday at 5pm AEDT
* 109.47 Japanese yen, from 108.99 Japanese yen
* 61.70 euro cents, from 61.73 euro cents
* 51.51 British pence, from 51.48 pence
* 122.88 NZ cents, from 123.06 NZ cents
