The Australian share market started the week strongly, closing up by more than one per cent on robust overseas leads, following better than expected US jobs data.
At the close on Monday, the benchmark S&P/ASX200 index was up 51.1 points, or 1.21 per cent, at 4,272.6, while the broader All Ordinaries index was up 49.9 points, or 1.18 per cent, at 4,292.9.
On the ASX 24, the September share price index futures contract was 45 points higher at 4,230, with 26,104 contracts traded.
US stocks surged on Friday night, Australian time, and European stocks rose to a four-month high after official US government data showed 60,000 more jobs than expected were created in July.
However, the bank holiday in Australia meant low volumes were traded on Monday with a low number of investors active, Commsec market analyst Steve Daghlian said.
The value of shares traded on the Australian Securities Exchange was 2.27 billion on only 1.25 billion shares, with 559 stocks up, 329 down and 350 unchanged.
This compares with the average daily turnover value last week of about $3.5 billion.
Mr Daghlian said the miners lead the way on Monday after commodity prices rose and resource stocks got a boost partly due to the better than expected US job numbers.
Resources giant BHP Billiton was up 70 cents at $32, recovering most of Friday’s stock losses when it wrote down the value of its American shale gas assets by $US2.84 billion.
Fortescue Metals gained eight cents to $4.26 after announcing $US1.5 billion ($A1.44 billion) in new funding for its iron ore expansion and Rio Tinto was $2.12, or 4.1 per cent, higher at $54.13.
The four major banks were all higher.
ANZ was up 22 cents at $23.56, National Australia Bank was 17 cents higher at $25.16, Westpac gained 15 cents to $23.45 and Commonwealth Bank was up 40 cents at $56.38.
In other equities news, Argo shares rose six cents to $5.44 after the investment company announced a full year net profit of $167.3 million, down 2.8 per cent on the prior 12 months.
Harvey Norman dropped 0.5 cents to $1.975 after flagging that its full year profit could drop by as much 40 per cent.
The retailer on Monday blamed low consumer confidence and fierce price competition from foreign websites for a seven per cent drop in sales for year to June 30.
West Australian gold miner Integra Mines shares were up 27 per cent to 40 cents after it agreed to a $426 million takeover by fellow gold miner Silver Lake Resources.
The price of gold in Sydney closed at $US1,605.85 per fine ounce, up $US14.40 from $US1,591.45 on Friday.
