The Australian share market continues to rise as energy companies and banks recover from Wednesday’s sharp falls.
The resources sector is the best performer after a jump in prices for oil and other commodities overnight, with Rio Tinto up $2.49, or 6.7 per cent, at $39.52, BHP up 74 cents, or 5.2 per cent, at $15.01, and Fortescue Metals 11 cents higher at $1.73.
Energy producers Woodside, Oil Search and Santos were also higher, as were the big four banks.
The market was more than one per cent higher in early afternoon trade, following Wednesday’s 2.3 per cent drop, the sharpest fall in more than four months.
KEY FACTS:
* At 1225 AEDT, the benchmark S&P/ASX200 index was up 56.8 points, or 1.16 per cent, at 4933.6 points.
* The broader All Ordinaries index was up 53.4 points, or 1.08 per cent, at 4984.2 points.
* The March share price index futures contract was up 56 points at 4880 points, with 21,469 contracts traded.
* National turnover was 1.07 billion securities traded worth $2.1 billion.
