ASX 200 closes 0.9 per cent on healthcare gains; Magellan rallies 4.4%

ASX roars to its best day in two weeks on health and energy sectors. Pilbara Minerals dives 9 per cent on guidance and Magellan rallies from Monday's record loss. 

The Australian sharemarket recorded its best day in two weeks, rising by 0.9 per cent. Photo: AAP Image/Paul Braven

Welcome to the Trading Day blog for Tuesday, December 21. ASX rallied  higher on Tuesday to its best day in two weeks on strong gains among health and energy stocks.

The S&P/ASX 200 closed on Tuesday up by 0.9 per cent higher to 7,355.0, while the broader All Ordinaries also gained 0.9 per cent.

The Dow Jones Industrial Average closed 1.2 per cent lower, the S&P 500 is down 1.1 per cent and tech-heavy Nasdaq retreated 1.2 per cent.

The US Nymex crude price dropped 3.1 per cent to $US68.66 a barrel, sending US energy stocks tumbling. Iron ore bucked the trend, trading 4.2 per cent higher to $US123.20 a tonne.