SYDNEY, AAP – Australian shares rose to an all-time high early but had only modest gains by the end of trade.

The ASX200 on Tuesday hit a record 7576.3 points as investor optimism continues in the early stages of earnings season.

Shares in information technology, consumer discretionaries and financials made substantial contributions.

The benchmark S&P/ASX200 index closed higher by 24.2 points, or 0.32 per cent, to 7562.6.

The All Ordinaries closed up 26.1 points, or 0.33 per cent, to 7830.4.

The Australian dollar was buying 73.28 US cents at 1622 AEST on Tuesday, lower from 73.56 US cents at Monday’s close.