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Derek Rose

Australian shares rally on Iran-Israel ceasefire deal

Iran Donald Trump Israel United States KFC Oil Rio Tinto

Most sectors on the Australian Securities Exchange have gained ground as Middle East tensions ease. (Bianca De Marchi/AAP PHOTOS)

The Australian share market has rallied as Middle East tensions ease, with Iran's retaliation against the US largely symbolic and news of a ceasefire between the Islamic Republic and Israel.

The benchmark S&P/ASX200 index on Tuesday finished up 80.6 points, or 0.95 per cent, to a 12-day high of 8,555.5, while the broader All Ordinaries gained 86.8 points, or 1.0 per cent, to 8,774.8.

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