The Australian sharemarket reached a new all-time high on Tuesday, marking its third record close in a week.
The S&P/ASX 200 index closed 47.3 points or 0.6% higher at 8,495.2, bringing its year-to-date increase to over 11%.
Of the 11 market sectors, 10 ended in positive territory, with healthcare and consumer discretionary leading the charge.
Metcash led individual stock gains, soaring 7.5% after Citi analysts upgraded the company following steady first-half results on Monday.
The major banks also performed strongly, with ANZ rising 1.1%, National Australia Bank gaining 0.8% and Westpac up 1%.
Among the miners, Fortescue Metals surged 2.1%, while BHP and Rio Tinto eased 0.2% apiece following a downturn in iron ore prices during Asian trade.
Collins Foods was the day’s biggest loser, plunging 4.3% after the KFC and Taco Bell operator cut its fiscal 2025 earnings outlook and dividend after persistent inflationary pressures impacted its margins.
On the data front, Australia’s current account for the third quarter rose A$2.2 billion to a deficit of $14.1 billion, driven by a shrinking trade surplus that reached its smallest level since mid-2018 due to weaker resource prices.
On the bond market, yields remained steady, with the 10-year note at 4.322% and the 2-year note at 3.972%.