SYDNEY, AAP – Shares on the Australian market were higher for a fourth consecutive day after global investors appeared optimistic about US third-quarter earnings.

The domestic market was up about one quarter of a per cent and almost all categories were higher at 1200 AEDT on Tuesday.

Technology and property were the clear favourites with investors.

There were gains of more than three per cent for artificial intelligence software vendor Appen and financial software vendor Bravura Solutions.

Wall Street traders were keen on technology stocks overnight as third-quarter earnings reports largely impress.

On the ASX, the only category lower was materials as the big miners all trended lower.

BHP blamed Western Australia’s tough border controls for a shortage of train drivers which contributed to producing less iron ore in its first quarter.

The miner revealed production of its most lucrative commodity fell three per cent from the previous quarter, and four per cent on the 2020 first-quarter.

COVID-19 border restrictions led to a shortage of train drivers.

BHP shares were down 1.55 per cent to $38.58.

The miner’s chief rivals fared worse. Iron ore specialist Fortescue dropped 1.76 per cent and Rio Tinto shed 2.81 per cent.

The benchmark S&P/ASX200 index was higher by 20.5 points, or 0.27 per cent, to 7401.6.

The All Ordinaries was up 25.1 points, or 0.32 per cent, to 7714.8.

Meanwhile, minutes of the Reserve Bank’s past meeting show the board is not concerned about investor expectations of higher rates earlier.

The board is still forecasting the next rate rise to occur in 2024 or later.

Investors in the bond market think the economic recovery from the pandemic will play out differently.

Yields have climbed higher in recent days. The Australian government 10-year bond yield was 1.7 per cent on Tuesday.

In company news, Tabcorp said first-quarter sales were down more than seven per cent due to coronavirus restrictions.

The closure of racing venues, and pubs and clubs, affected the wagering and media division most.

Company leaders said the demerger of the lotteries and Keno arm was on track for next year and would cost up to $275 million.

Shares were down 1.91 per cent to $5.13.

The big four banks were all higher but gained less than half a per cent.

The Australian dollar was buying 74.24 US cents at 1200 AEDT, higher from 74.04 US cents at Monday’s close.