Already at a strong start, the Australian share market rallied further after the release of surprisingly better employment data.

At midday, the major indices had gained another 0.1 per cent to increases at market open.

The benchmark S&P/ASX200 index climbed 96.9 points, or 2.28 per cent, at 4351.5 points. Meanwhile, the broader All Ordinaries index was up 91.6 points, or 2.14 per cent, to 4369.4.

Among major sub-indexes, financials increased 2.4 per cent, information technology jumped 2.25 per cent and materials went up 1.85 per cent.
RBS Morgans' equities adviser Richard Gregory said the announcementof local June jobs data before noon drove the Australian market higher.

''That provided a further boost both to the equity market and the Australian dollar: it rallied strongly immediately post that release.

''The headline employment number was far stronger than the market was looking for.''

Australia created almost 46,000 jobs in June, the most since January. The jobless rate fell to 5.1 per cent for the month, the lowest since January 2009.
Investors hurried into banking shares, with ANZ Banking Group leading the industry higher, climbing by 88 cents, or 4.15 per cent to $22.11.

National Australia Bank rose 74 cents, or 3.2 per cent to $23.83. Westpac jumped 69 cents, or 3.25 per cent to $21.94. Commonwealth Bank gained $1.59 or 3.3 per cent to $49.84.