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Australian share market’s benchmark index hits all-time high

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The Australian share market has opened higher, with every sector joining an early rally, as the ASX200 broke through its intra-day all-time high set in November 2007. 9News

The benchmark S&P/ASX200 index was up 44.1 points, or 0.65 per cent, to 6,869.9 points at 1015 AEST on Tuesday, while the broader All Ordinaries was up 42.4 points, or 0.61 per cent, to 6,953.8 points.

Telecommunications and utilities shares were the highest climbers, adding 1.44 per cent and 1.18 per cent respectively.The financial sector had the smallest advance, collectively gaining 0.33 per cent. It follows a mixed session on Wall Street overnight, with the Dow Jones Industrial Average finishing up 0.11 per cent, the S&P 500 down 0.16 per cent and the tech-heavy Nasdaq Composite down 0.44 per cent.

The Australian Bureau of Statistics will publish data on building approvals for June at 1130 AEST on Tuesday.

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Australian stock market to face biggest test after record highsThe Australian stock market has hit record highs on the back of recent tax and rate cuts, but it will face its biggest test in the coming days when companies disclose their full year results. 9News Record highs on the stock market mean nothing. When Australians can't pay their way, can't afford medication. Can't afford to pay high ridiculous rents,with some families living rough in their car.Over a million kids have no proper home.
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