Australian shares higher; energy firms, miners up

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Australian shares higher; energy firms, miners up
SYDNEY (MarketWatch) -- Australian stocks gained ground in early trading on Tuesday, with the S&P/ASX 200 index gaining 0.8% to trade at 4,113.80. Pessimism over global economic trends and the health of the banking sector sent Australian stocks down for three straight sessions, with the benchmark index losing 5.2% over the period. Still, energy and material firms were helping the index to rise on Tuesday, with Rio Tinto Ltd. shares up 1.5% and Gloucester Coal Ltd. shares up 6%.