Market Wrap / copper's climb

News of the EU and the US setting a trade talk agenda fostered positive sentiment on the local market during Tuesday's trade. European bourses advanced overnight, while US and UK markets were closed for public holidays.

The S&P/ASX 200 climbed to 8407.60 points today, a gain of 0.6%. The materials sector was a notable exception on the board, but the copper players advanced following reports that an oversea investor led a third bid on ASX-listed Mac Copper. The stock was in a trading halt, but Capstone Copper rose 6.8% while Sandfire Resources gained 3.1%.ALS shares were also halted, pending a $350 million institutional placement. It comes as ALS posted a 16% rise in full year revenue to $3 billion.Telstra flagged its focus on AI at its Investor Strategy Day, with CEO Vicki Brady conceding the size of Telstra's workforce today will look different than in 2030.Elsewhere, the banks had a good session, with all of the Big Four ending in the green. IAG managed to finish the session 0.7% higher. The insurer has received around 2,500 claims as a result of the flooding on the NSW Mid north coast and Hunter region, but its perils claims to the end of April were lower than anticipated.Shares in REA Group fell 3.5% on news the ACCC is in the early stages of a probe into the company.Looking ahead, April CPI data is expected tomorrow; along with a raft of companies releasing quarterly reports, such as Goodman Group, Web Travel and Champion Iron.