ASX hits the heights

THE Australian share market climbed to fresh 11-and-a-half year heights as a broad rally boosted most sectors by more than a percentage point.

The benchmark S&P/ ASX200 index was up 80.1 points, or 1.24 per cent, to 6524.0 points at noon yesterday, while the broader All Ordinaries was up 78.6 points, or 1.2 per cent, to 6586.4.

The last time the local share market was at this level was in November 2007 when the impacts of the global financial crisis began to bite.

Healthcare shares led gains yesterday, collectively adding more than two per cent by noon.

Pharma giant CSL was up 2.64 per cent to $209.19 and medical supplier ResMed was up nearly 2.5 per cent to $17.00.

Only the utilities sector was in negative territory, losing 2.08 per cent.

The tech, industrial, telecommunications, consumer staples and consumer discretionary sectors all gained more than one per cent.

Mining giant BHP was up 1.66 per cent to $38.47 while Rio Tinto was up 1.68 per cent to $99.645.

The big four banks all rose as well, with ANZ up 1.16 cent to $28.70, Commonwealth up 1.22 per cent to $80.975, NAB up 1.12 per cent to $27.20 and Westpac up 1.22 per cent to $28.32.