Thursday, October 08, 2009 » 05:10pm




The Australian share market has closed up more than one per cent, supported by strong jobs data.

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The Australian share market has closed up more than one per cent, supported by stronger than expected jobs data.

The benchmark SP/ASX200 index finished up 72.9 points, or 1.55 per cent, at 4768.6 points, while the broader All Ordinaries index gained 67.4 points, or 1.44 per cent, to 4763.3 points.

On the Sydney Futures Exchange at 1615 AEST, the September share price index contract was 50 points higher at 4766 on 30,537 contracts.

IG Markets research analyst Ben Potter said the market rose on the back of new unemployment data and Alcoa Inc's profit result in the United States.

'They (Alcoa) were expected to post another loss and they posted a profit, so they were up about seven per cent,' Mr Potter said.

'Alcoa is important ... it sets the mood for the earnings season and there is an expectation that analysts have set the bar far too low,' he said.