Australian shares pare early gains but scrape ahead
The Australian share market has finished higher after giving back some of its early gains. -AAP Image
The local share market has handed back some of its early gains but finished higher, as sluggish banks and insurers weighed against upticks in miners, energy and IT stocks.
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The S&P/ASX200 rose 16.8 points on Tuesday, up 0.19 per cent, to 8,886.9, as the broader All Ordinaries gained 26.5 points, or 0.29 per cent to 9,157.6.
Eight of 11 local sectors ended the session higher, led by real state and IT stocks, while some strong performances from uranium producers and other miners helped compensate for a 1.1 per cent slump in the financial sector.
The Australian dollar is trading near two-year highs, buying 70.74 US cents, up from 70.29 US cents on Monday at 5pm, buoyed by commodity prices and last week's interest rate increase.
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