Strong miners and IT stocks have helped push Australia's sharemarket higher despite a slip in banks and the energy sector, as oil prices shuddered against an uncertain geopolitical outlook.
The S&P/ASX200 rose 24.5 points on Wednesday, or 0.28 per cent, to 8,707.3, as the broader All Ordinaries gained 32 points, or 0.36 per cent, to 9,028.9.
Nine of 11 local sectors ended the session higher, with raw materials, IT stocks, consumer staples and health care stocks notching gains of more than 1 per cent, counterbalancing weakness in energy stocks (-2.2 per cent) and financials (-0.8 per cent).
Gold prices retreated during the session, easing to $US4,464 ($A6,600) an ounce, after climbing to almost within one 1 cent of the record high $US4,550 an ounce.
On Wednesday afternoon the Australian dollar was trading at 14-month highs of 67.59 US cents, up from 67.27 US cents on Tuesday at 5pm.
