Mining and Energy resuscitate ASX

The Australian share market was slightly higher on Tuesday, buoyed by gains in the energy and mining sectors.

After being down six points in the first 40 minutes of trading, the benchmark S&P/ASX200 index on Monday finished up 23.5 points at 6852.2, a gain of 0.34 per cent.

Flinders Mines gained 41.5 per cent to 75c. Forrestania Resources rose 30 per cent to 19.5c, ahead of their virtual East Coast Introduction To Tier 1 Drilling In WA Roadshow kicking off on Wednesday.

*Forrestania Resources (ASX: FRS) is planning a maiden lithium drilling program to test major lithium targets along the emerging Forrestania lithium province in Western Australia.*

The energy sector rose 4 per cent after Russia indefinitely shut down gas flows to Germany via the Nord Stream 1 pipeline. Cauldron Energy (ASX: CXU) was the best of the small caps adding 20 per cent to 1.2c.

Elsewhere in the energy sector, Woodside (ASX: WDS) rose 4.3 per cent to $35.97, Ampol (ASX: ALD) added 3.1 per cent to $32.98 and Beach Energy (ASX: BPT) rose 5.2 per cent to $1.72.

The Australian dollar hit a fresh six-week low against the greenback.

It was buying US67.81¢ from US67.98¢ at Friday’s close.