Australian stock market closes higher

Special Report: Global Financial Crisis

CANBERRA, May 4 (Xinhua) -- The Australia share market closed higher on Monday.

The benchmark SP/ASX200 index was up 113.4 points, or 3.01 percent, at 3,883, while the broader All Ordinaries increased 108.1 points, or 2.89 percent, to 3,846. It was the biggest one-day gain in the SP/ASX200 since March 16.

Total market turnover reached about was 1.9 billion shares, traded for a value of 3.45 billion (2.54 billion U.S. dollars), with 667 stocks up, 332 down and 306 unchanged.

In the banking sector, ANZ Banking Group put on 62 cents, or 3.88 percent, to 16.62 dollars, Commonwealth Bank was up 1.55, or 4.42 percent, to 36.60 dollars, National Australia Bank up 94 cents, or 4.53 percent, to 21.70 dollars and Westpac climbed 55 cents, or2.9 percent, to 19.50 dollars.

In the resources sector, global miner BHP Billiton added 83 cents, or 2.48 percent, to 33.82 dollars, while rival Rio Tinto surged 3.12 dollars, or 4.86 percent, to 67.30 dollars.

The media stocks were mostly stronger with News Corporation up 36, or 2.86 percent, to 12.95 dollars and its non-voting scrip surged 37 cents, or 3.29 percent, to 11.63 dollars, Fairfax Media finished steady at 1.15 dollars. and Consolidated Media added four cents, or 1.88 percent, to 2.17 dollars.(1 Australian dollar equals 0.7364 U.S. dollar)