Local shares have opened with strong gains, helped by big gains across a variety of sectors.
The benchmark S&P/ASX 200 is up 58.3 points, or 0.8 per cent, at 7034.4, a move almost identical to that flagged by SPI futures earlier today.
Energy, following big gains in crude prices overnight, is leading the charge higher with an increase of 1.6 per cent. Consumer staples and healthcare have also jumped 1.2 per cent apiece, the former helped by Coles’ result and the latter lifting to fresh record highs.
Elsewhere, financials have risen 0.9 per cent, materials 0.8 per cent, while communications have added 0.7 per cent. The gains for industrials, consumer discretionary and technology range from between 0.2 per cent to 0.6 per cent.
Hit by higher bond yields, utilities and REITs are trading flat.