The Australian share market has surged in morning trade, following strong Friday gains on Wall Street after a bounce in US employment.
The ASX 200 index was up 1.6 per cent to 5,316 by 11:07am (AEST), while the broader All Ordinaries was up 83 points to 5,398, having been as high as 5,410 earlier in the session.
It is the first time the All Ords has cracked 4,000 points in a month.
The strong gains have been broad-based, with 184 of the top 200 companies rising.
The market heavyweight banking and mining sectors were the driving force behind the strong market gains, with all four major banks up more than 2 per cent and BHP Billiton posting a similar rise.
ANZ's 2.9 per cent gain was leading the major banks, while South32 and Fortescue both had 4 per cent gains that were leading the mid-large cap mining sector.
The main driver for the local market's gain was a strong 1.5 per cent rise on Wall Street.
That rise, in turn, was sparked by unexpectedly good news on the US economy, in the form of a 287,000-strong increase in jobs during June.
That bucked a recent downtrend, and was more than 100,000 above expectations, increasing the chances that the Federal Reserve may raise US interest rates again before the end of the year.
Increased prospects of a US rate rise should be expected to hit gold, which has been boosted by the unprecedented level of monetary stimulus from central banks around the world, but the precious metal held firm at $US1,367 an ounce.
That saw Newcrest rise 1.8 per cent to $26.59.
The Australian dollar has also held relatively firm, despite the increased prospect of tighter US monetary policy, buying 75.5 US cents.