Australian shares leap to three-month high

The local share market enjoyed its best day of the year so far, led by strong gains for BHP and Rio Tinto, while the Aussie was close to a 16-month high.

By AAP & CBA Newsroom

27 January 2026

ASX building. Credit: Adobe stock

The local share market has rallied to a three-month high after its holiday break, led by the iron ore giants even as gold and silver soared further into uncharted territory.

Indexes end sharply higher

The benchmark S&P/ASX200 index on Tuesday enjoyed its best day since December 23, rising 81.5 points, or 0.92 per cent, to 8,941.6.

The broader All Ordinaries climbed 78.6 points, or 0.86 per cent, to 9,268.5.

Australian dollar strengthens

In currency, the Australian dollar on Monday climbed over 69 US cents for the first time since late September 2024.

Late Tuesday afternoon the Aussie was trading for 69.10 US cents, from 68.50 US cents on Friday.

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