Australian shares have lifted in afternoon trade, following an upbeat session on US markets as the Dow Jones hit a record high for the second day in a row.
- Iron ore surged to a record high, above $US200 per tonne
- The Australian dollar has risen to 77.8 US cents, erasing yesterday’s losses
- Macquarie’s annual profit jumped to $3.02b, also a fresh record
The ASX 200 index gained 0.3 per cent (to 7,083 points) by 2:25pm AEST, after briefly dipping into negative territory at the open.