ASX higher, Fortescue jumps nearly 10pc

Fortescue Metals shares closed almost 10 per cent higher on the ASX as miners surged from rising iron ore prices.

Market giant BHP gained about four per cent and Rio Tinto improved by more than three per cent to help the market higher on Tuesday.

The benchmark S&P/ASX200 index closed higher by 57.5 points, or 0.78 per cent, to 7410.6 points.

The All Ordinaries closed up 53.4 points, or 0.69 per cent, to 7741.7 points.

Energy shares had the greatest improvement as the market bounced back from coronavirus lockdown fears a day earlier.

The Australian dollar was buying 72.22 US cents at 1621 AEDT, lower from 72.51 US cents at Monday’s close.

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