Australian shares hit 3-1/2-month closing high on mining, energy boost

FILE PHOTO: A board displaying stock prices is seen at the Australian Securities Exchange (ASX) in Sydney, Australia, Feb. 9, 2018. REUTERS/David Gray/File Photo

AUSTRALIAN shares rose on Tuesday to a 3-1/2-month closing high, lifted by gains in miners and energy firms on strong underlying commodity prices, while rising inflation was seen nudging the central bank to move closer towards hiking interest rates.

The resources-heavy S&P/ASX 200 index climbed 0.56% to 7,565.20, its highest close since Jan. 5, as trading resumed after a holiday-extended weekend.