Australia share market ends higher

The Australian share market finished 1 percent higher on Tuesday as investors piled into equities after the Reserve Bank of Australia cut the cash rate by a quarter of a percentage point. The benchmark S&P/ASX200 index was up 44.4 points, or 1 percent, to 4,433.0, while the broader All Ordinaries index rose 43.6 points, or 1 percent, to 4,451.9. Market turnover was 1.69 billion shares worth 3.55 billion AU dollars (3.66 billion U.S. dollars), with 585 stocks up, 353 down and 343 unchanged. In the banking sector, ANZ Bank added 20 cents to 24.99 dollars, Westpac gained 22 cents to 25.16 dollars, National Australia Bank rose 27 cents to 25.81 dollars and Commonwealth Bank increased 19 cents to 56.04 dollars. In the resources sector, BHP Billiton finished 42 cents higher at 33.54 dollars while Rio Tinto climbed 62 cents to 53.98 dollars. (1 AU dollar equals 1.0297 U.S. dollars)