Australia stocks jump, with miners, banks rallying

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Australia stocks jump, with miners, banks rallying
LOS ANGELES (MarketWatch) -- Australian stocks opened sharply higher Tuesday, aided by an overnight U.S. rally as as European leaders looked at ways to bulk up a regional bail-out fund. The S&P/ASX 200 was up 2.1% at 3,945.30 in the early minutes, with resource firms and financials -- which had sold off heavily in recent sessions -- helping lead the advance. Among the miners, Rio Tinto Ltd. added 3.6%, Fortescue Metals Group Ltd. jumped 3.7%, Alumina Ltd. and Newcrest Mining Ltd. leapt 4.2% each, and BHP Billiton Ltd. improved by 2.2%. In the energy sector, Origin Energy Ltd. gained 3.4%, and Santos Ltd. climbed 3.2%, while in the banking space, National Australia Bank Ltd. gained 3%, Australia & New Zealand Banking Group tacked on 2.9%, and Macquarie Group Ltd. was 4.2% higher.