Market wrap: ASX200 lifts on Wall St rally and iron ore surge

A Wall St rally and lift in iron ore prices propelled the Australian sharemarket higher on Thursday, as investors shrugged on tariff uncertainty and piled back into risk assets. The benchmark ASX200 jumped 50.6 points, or 0.59 per cent, to close at 8589.2, while the broader All Ordinaries index lifted 48.8 points or 0.56 per cent, to finish at 8826.7. The heavyweight materials sector led the charge, gaining 1.24 per cent. Singapore iron ore futures advanced 3 per cent to $US98.95 a tonne in afternoon trade on the back of Wednesday's better-than-expected consumer inflation data out of China. "This snapped…