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SYDNEY - The Australian sharemarket hit another record close as stronger than expected US employment data calmed concerns over slowing economic growth in the world's biggest economy, and higher metal prices boosted local resources stocks.
The S&P/ASX200 index rose 48.9 points to 6654.3, beating the previous record set just last Wednesday of 6659.95.
The All Ordinaries gained 49.9 points to 6667.2, just under its record of 6667.6 set last Tuesday.
The S&P 200 hit intraday highs of 6684.4 and the All Ords 6695.4 respectively.
Macquarie Equities client adviser David Halliday said strong metal prices helped resource stocks.
"But investors were mostly heartened by the strong economic news out of the US on Friday," Halliday said.
"It appears that the market over there's cheering good news as much as it's cheering bad news at the moment.
"So essentially whatever comes out, it's being construed as good.
"That's why that market's at records and we've followed that cue today."
Rio Tinto led the market higher, putting on A$3.67, or 3.41 per cent, to A$111.32, while rival BHP Billiton added 59c to A$44.69.
Zinc and lead miner Zinifex expanded by 37c to A$18.75 and aluminium producer Alumina climbed 13c to A$7.07.
Australia biggest oil and gas producer Woodside Petroleum was steady at A$51.78 as Nymex crude lost US22c to settle at US$81.22 a barrel.
While there was little action in Woodside shares, two of its biggest local competitors posted large gains.
Santos advanced A64c, or 4.19 per cent, to A$15.90 and Oil Search found A13c, or 3.12 per cent, to A$4.30.
Newcrest Mining gained A5c as the spot price of gold reached US$739.50, up US$3.50 on Friday's close.
Telstra gained 5c to A$4.40 and Qantas rose 4c to A$5.69.
Macquarie Bank rose A$1.30 to A$87.25 and Babcock & Brown added A$1.10, or 3.8 per cent, to A$30.
- AAP
