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AAP
AAP
Business
Derek Rose

Australian shares rally to key marker in eight-day high

United States Australia US Federal Reserve NAB Westpac
Every sector finished in the green, with utilities the biggest gainer, climbing 4.2 per cent. (Joel Carrett/AAP PHOTOS)

The local share market has rallied to hit an eight-day high to close above a key resistance level, shrugging off fears about the Middle East conflict following dovish remarks by Federal Reserve officials.

The benchmark S&P/ASX200 index on Tuesday climbed back above 7,000, rising 70.4 points, or 1.0 per cent, to 7,040.6. 

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