Australian stocks close higher

The Australian share market has closed slightly higher as gains in the health care, resource and banking stocks had driven the index up.

At the close on Tuesday, the SP ASX/200 index was up 9.1 points, or 0.17 percent, at 5,478.3 points and the All Ordinaries was up 12 points, or 0.22 percent, at 5,573.5 Points.

IG market analyst Angus Nicholson said the primary reason for the higher close was because of the positive performance in the U.S markets overnight with the main factor being the lack of volatility in the currency markets.

"There was a good performance in the healthcare sector with Ramsay posting strong earnings, energy sector as oil prices went up higher and the banks had a good day too with Macquarie up by two percent," Nicholson said.

At the close, ANZ was up 0.23 percent, the National Australia Bank rose 0.18 percent, Westpac declined 0.60 percent, while the Commonwealth Bank of Australia increased 0.36 percent.

BHP Billiton climbed 0.86 percent, rival Rio Tinto jumped 0.78 percent while gold miner Newcrest was 1.95 percent higher.

Oil Search was 1.62 percent higher, Santos rallied at 0.22 percent while Woodside Petroleum gained 0.14 percent.

Wesfarmers advanced 0.40 percent while rival Woolworths dropped 2.35 percent.

Qantas slumped 1.52 percent while telecommunication giant Telstra's dropped 0.75 percent at Tuesday's close. Endit