KEY POINTS:
PERTH - The Australian sharemarket closed firmly in the black with gains across all sectors, except for healthcare.
The benchmark S&P/ASX200 index was up 55.7 points, or 1.51 per cent, at 3,742.7 while the broader All Ordinaries index gained 50.3 points, or 1.38 per cent, to 3,689.2.
On the Sydney Futures Exchange at 1616 AEDT, the March share price index contract was 39 points higher at 3,720 on a volume of 18,589 contracts.
IG Markets research analyst Ben Potter said eleven of the 12 sectors on the local bourse were in positive territory, led by consumer staples, financials, materials and industrials.
"In the consumer staples sector, Coca-Cola Amatil, Woolworths, Wesfarmers and Fosters Group are responsible for the majority of gains," he said.
Soft drink maker Coca-Cola was up 47 cents, or 5.45 per cent, at $9.10, supermarket chain Woolworths put on 75 cents, or 2.96 per cent, to $26.10, Coles owned Wesfarmers advanced 38 cents, or 2.11 per cent, to $18.38 and brewer Fosters Group inched four cents higher to $5.29.
Mr Potter said the healthcare sector was down, with pharmaceutical maker CSL Ltd shedding 53 cents, or 1.67 per cent, to $31.27.
He said gold stocks were mixed, effectively capping the market's gains overall.
The spot price of gold in Sydney was US$850.75 per fine ounce at 1618 AEDT, down US$23.30 on Monday's close of US$874.05.
Gold stocks were mixed. Lihir Gold fell 26 cents, or 8.97 per cent, to $2.64 and Newmont was down 20 cents, or 3.52 per cent, at $5.48 but Newcrest bucked the trend, gaining 38 cents, or 1.22 per cent, to $31.60.
Mr Potter said there had been "uninspiring" leads from overseas overnight, with London's equity markets marginally higher on strength in energy stocks while Wall Street slid lower after car firms released weak December sales figures.
Mining giant Rio Tinto said it had resumed its iron ore operations in Western Australia's Pilbara region after suspending some activities for almost a fortnight.
Its shares were up $1.12, or 2.65 per cent, at $43.42 while rival BHP Billiton added seven cents, or 0.22 per cent, to $31.70.
Among banking stocks, Commonwealth Bank advanced 87 cents, or 3.04 per cent, to $29.47, ANZ lifted 33 cents, or 2.19 per cent, to $15.40, Westpac rose 39 cents, or 2.34 per cent, to $17.03 and National Australia Bank gained 51 cents, or 2.52 per cent, to $20.74.
Making headlines on Tuesday, the National Association of Forest Industries said it wants to use federal government infrastructure funds to help wood products maker Gunns fast-track its $2.2 billion pulp mill in northern Tasmania.
Gunns shares were up eleven cents, or 9.57 per cent, at $1.26.
Australia's largest construction company, Leighton Holdings, said asset write-downs had forced it to cut its first half 2009 net profit forecast by $170 million.
Leighton shares gave up $3.33, or 11.75 per cent, to $25.00.
OM Holdings' biggest shareholder, de-listed Ukraine-owned Consolidated Minerals, won't hose down speculation it is planning a takeover of the fellow manganese miner.
Shares in OM Holdings were up 16 cents, or 13.79 per cent, at $1.32.
Energy stocks were stronger, too. Woodside gained 84 cents, or 2.22 per cent, to $38.61, Oil Search added four cents to $4.60 and Santos put on 39 cents, or 2.64 per cent, to $15.14.
Media stocks were mixed. Fairfax fell 5.5 cents, or 3.24 per cent, to $1.645, Consolidated Media rose eleven cents, or 5.67 per cent, to $2.05, News Corp jumped 24 cents, or 1.72 per cent, to $14.19, and its non-voting scrip was steady at $13.25.
The top traded stock by volume was iron ore miner Admiralty Resources, with 222.92 million shares changing hands worth $10.29 million.
Its shares were up 0.3 cents, or 8.11 per cent, to four cents after reaching a high of 5.6 cents in intraday trade.
Preliminary national turnover was 1.4 billion shares worth $2.5 billion, with 597 stocks up, 331 down and 271 unchanged.
- AAP