ASX 200 live: ASX soars on peace hopes; Virgin, Greatland take off; CBA hits record; Woodside dives as oil prices fall; Collins Foods rockets

Strong IPO debuts build on ASX optimism over possible de-escalation of Middle East tensions. Whyalla Steelworks' sale process begins. CBA hits record. Rio Tinto and Gina Rinehart plan a new iron ore mine.

Strong debuts by Virgin and Greatland are adding to the widespread optimism on the ASX on Tuesday. Picture: Gaye Gerard

Welcome to the Trading Day blog for Tuesday, June 24. The ASX 200 index jumped 1 per cent to 8555.5 points on Tuesday, with eight sectors finding support. Materials and financial stocks lead the gains. Virgin rallied on IPO debut. Banks are strongest as CBA hits record.

Wall Street's major indexes - the S&P 500, Dow Jones index and technology-focused Nasdaq - all closed nearly 1 per cent higher.

Oil prices are down after US President Donald Trump announced a ceasefire between Israel and Iran, following the latter's 'weak' strike on a US military base in Qatar in response to attacks  on its nuclear facilities. The global benchmark Brent crude is around $US69 per barrel and the US WTI is around $US67 per barrel.

Gold futures are lower near $US3365 per ounce.

Cryptocurrency giant bitcoin is around $US104,800.

The Aussie dollar is trading around US64.88c.

Originally published as ASX 200 live: ASX soars on peace hopes; Virgin, Greatland take off; CBA hits record; Woodside dives as oil prices fall; Collins Foods rockets