Australian Markets Rally On Mining And Energy Stocks

Australian markets climbed as firmer commodity prices boosted mining and energy stocks. Investors awaited Wednesday's CPI reading after a measure of Australian consumer sentiment improved slightly in June.

The benchmark S&P/ASX 200 rallied 1.36 percent to 7,838.80 while the broader All Ordinaries index closed up 1.28 percent at 8,076.90.

Australia consumer confidence improved in June but remained firmly in the negative zone largely due to concerns about inflation, growth and interest rate outlook, survey data from Westpac showed on Tuesday.

The Westpac-Melbourne Institute Consumer Sentiment Index rose to 83.6 in June from 82.2 in May. Despite the improvement, consumer confidence remained deeply in the pessimistic territory. A score below 100 suggests that pessimists outnumber optimists.

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