A surprise drop in unemployment has given the share market a boost.

The banks in particular rose after March jobs figures showed an unexpected fall in the unemployment rate to 6.1 per cent, as a greater number of jobs were added to the economy.

The big miners were already making gains due to higher commodity prices.

“It’s a reading on the health of the domestic economy that’s better than expected so it would support the more domestic based businesses,” Morgans private client adviser Alistair McCorquodale said of the jobs figures.

Commonwealth Bank had advanced 88 cents to $93.32 by noon AEST, ANZ was up 20 cents at $36.14, National Australia Bank was up 32.5 cents at $39.355 and Westpac was 36 cents higher at $39.28.

BHP Billiton had added 67 cents to $30.18, Rio Tinto was up 19 cents at $56.02 and Fortescue Metals was 9.25 cents higher at $1.9475.

Fortescue’s quarterly report showed a nine per cent reduction in cash costs and a one per cent lift in output.

Oil and gas producer Woodside Petroleum was up 18 cents at $35.59 and Santos was 24 cents higher at $7.96.

“Oil is starting to creep up a little bit … so that’s certainly feeding through,” Mr McCorquodale said.

Nine Entertainment had gained 13 cents, or six per cent, to $2.28 after selling its Nine Live business, which includes Ticketek, to a Hong Kong-based private equity group, and said shareholders are set to enjoy stronger dividends.

KEY FACTS

* At 1200 AEST on Thursday, the benchmark S&P/ASX200 index was up 44.2 points, or 0.75 per cent, at 5,952.6 points.

* The broader All Ordinaries index was up 44.9 points, or 0.76 per cent, at 5,922.2 points.

* The June share price index futures contract was up 48 points at 5,947 points, with 16,097 contracts traded.

* National turnover was 712 million securities worth $1.8 billion.