The local share market rocketed higher today, bolstered by a strong performance from international equity markets overnight and a soaring oil price.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 1.2% to 5413 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 1.1% to 5480 points
  • AUD/USD at US 73.98 cents
  • Iron Ore at US$70.34 a tonne, according to the Metal Bulletin
  • Gold at US$1,217.55 an ounce
  • Brent oil at US$49.42 a barrel

Companies across the resources industry bounced on Tuesday. BHP Billiton Limited (ASX: BHP) surged 4%, while Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) lifted 3.8% and 2.4%, respectively.

Fortescue Metals Group Limited (ASX: FMG) and South32 Ltd (ASX: S32) rose 6.8% and 5.4% as well, while gold miners Independence Group NL (ASX: IGO) and Beadell Resources Ltd (ASX: BDR) gained 4.1% and 4.2%.

A number of other businesses also enjoyed strong gains today. Technology One Limited (ASX: TNE) soared 11.1%, Myer Holdings Ltd (ASX: MYR) gained 5.8% and Whitehaven Coal Limited (ASX: WHC) rose 5.2%.

Ardent Leisure Group (ASX: AAD) didn’t fare so well, slipping 1.5%.

Here are Tuesday’s top stories:

  1. Why Goldmans is bullish on the Australian economy
  2. Another warning for investors considering resource stocks
  3. Pot stocks could be about to smoke the ASX
  4. These 6 stocks have dropped more than 18% in the past week
  5. 3 BIG dividend shares to beat Australia and New Zealand Banking Group
  6. 4 growth stocks I’d buy with $4,000 today

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.