Australian Shares Surge Amidst Easing Middle East Tensions,

Australian Markets: Australian shares surged on Tuesday, taking cues from Wall Street's overnight rally amid easing tensions in the Middle East. However, weakness in commodity prices weighed on mining stocks, dampening overall gains.

The S&P/ASX 200 index advanced by 0.6 per cent to reach 7,692.00 by 0036 GMT, building on its 1.1 per cent gain from the previous session. Market participants remained attentive to the forthcoming first-quarter inflation data, slated for release on Wednesday, which could offer insights into potential shifts in interest rates.

On Wall Street, stocks closed higher following recent sell-offs, with investors eyeing key corporate earnings reports to gauge the health of the U.S. economy.

In the Middle East, concerns over escalating tensions between Iran and Israel subsided after Iran downplayed reported Israeli attacks on its territory.

However, mining giants faced headwinds as underlying commodity prices remained soft. Although sector leaders like BHP Group and Rio Tinto saw marginal gains, the broader mining sector declined by as much as 0.5 per cent.

Financials, on the other hand, saw a notable uptick, rising by 1.2 per cent, with major banks such as the "Big Four" posting gains ranging from 0.8 per cent to 1.3 per cent. Westpac Banking disclosed an A$164 million impact on its half-yearly profit.

Energy stocks remained steady despite overnight drops in oil prices, with Woodside Energy holding flat and Santos edging up by 0.9 per cent.

The healthcare sector witnessed a robust 1.3 per cent jump, led by CSL, the nation's top-priced stock, which gained 1.2 per cent.

Information technology stocks mirrored the positive sentiment of the tech-heavy Nasdaq, rising by 0.8 per cent

Real estate stocks experienced a 1 per cent rise, contrasting with a 3.9 per cent dip in gold stocks, following a decline in bullion prices.

Among individual stocks, logistics firm Brambles saw a significant drop of up to 6.7 per cent, marking its worst performance in nearly two years, after reporting a decline in third-quarter group volumes.

Meanwhile, New Zealand's benchmark S&P/NZX 50 index dipped by 0.1 per cent to reach 11,836.59.

With Reuters Inputs