THE share market rose to its highest level in 18 months shortly after opening today, with key indicator the All Ordinaries breaching the 5000 mark for the first time since the global financial crisis.
At 10.15am AEST, the benchmark S&P/ASX200 index was up 32 points, or 0.65 per cent, at 4980.1, while the broader All Ordinaries was up 32.7 points, or 0.66 per cent, at 5005.6.
The All Ordinaries last closed above 5000 points on September 22, 2008, when it closed at 5050.
There were about three stocks up for every stock that was down.
Among the major miners, BHP Billiton rose 53 cents, or 1.21 per cent, to $44.43, while Rio Tinto gained $1.31, or 1.65 per cent, to $80.78.
US stocks closed higher on Friday as investors awaited the start of company earnings season this week, pushing the Dow briefly over 11,000 for the first time in a year and a half.
At settlement, the Dow Jones Industrial Average ended up 70.28 points, 0.64 per cent, at 10,997.35 points.
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The broad-market Standard & Poor's 500 index finished up 7.94 points, or 0.67 per cent, at 1194.37 points.
The Nasdaq composite was up 17.24 points, or 0.71 per cent, at 2454.05 points.
IG Markets research analyst Ben Potter said he expects the ASX 200 to reach above the 5000 mark some time this week.
"We opened higher than expected with the continued M&A activity in the coal sector," Mr Potter said.
"Materials is the best performing sector at the moment."
Among the major energy stocks, Woodside rose 32 cents to $47.82 and Santos gained 11 cents to $14.99.
Qantas rose six cents, or 2.09 per cent, to $2.93.
In news today, two of Seven Network's largest independent shareholders say they will support the merger of the television network and Kerry Stokes's privately owned Caterpillar products dealer WesTrac after extracting better terms for the deal.
Seven shares rose 27 cents, or 3.6 per cent, to $7.69 by 10.42am AEST.
Rival Ten Network rose two cents, or 1.09 per cent, to $1.85.
Galaxy Resources has signed agreements to sell its battery grade lithium carbonate product to 13 major Chinese lithium cathode producers.
Galaxy added 4.5 cents, or 3.77 per cent, to $1.24.
The four major banks also were stronger this morning.
NAB rose nine cents to $27.69, Commonwealth Bank gained 29 cents to $58.43, Westpac increased 18 cents to $27.90 and ANZ added 18 cents to $25.33.
At 10.43am AEST, the spot price of gold in Sydney was $US1164.80 per fine ounce, up $US9.45 on Friday's closing price of $US1155.35.
At 10.44am AEST, the most traded stock by volume were rights in Samson Oil and Gas, with 33.9 million units sold worth $1.3 million.
The rights were up 0.1 cent, or 2.63 per cent, at 3.9 cents.
Overall market turnover was 701.4 million shares worth $967.5 million, with 564 stocks up, 248 stocks down and 328 unchanged.
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