Energy and materials stocks lifted the Australian sharemarket to a 0.9 per cent advance on Tuesday, as Brent crude consolidated above the $US110 a barrel level on reports European importers of Russian oil are inching closer to an outright ban.P/ASX 200 Index finished at 7341.1 points, a gain of 62.6. The All Ordinaries rose 0.8 per cent to 7620.7.
Ramsay Health Care rose 1.3 per cent to $64.10 after it confirmed speculation that it, and Sime Darby Holdings Berhad, have received a proposal from IHH Healthcare BerhadThe indicative proposal is pitched at an enterprise value for Ramsay Sime Darby of $US1.35 billion. KGL Resources surged 8.9 per cent to 49¢ having entered into a binding agreement with Glencore for the sale of copper concentrate from KGL’s Jervois copper project.The deal has a minimum term expiring at the end of five full calendar years after commercial production is reached, and will continue beyond the minimum term until either party terminates it by giving two years’ notice.
New Hope declared a fully franked interim dividend of 17¢ per share, up from 4¢; it also declared a special dividend of 13¢ per share.