The Australian share market on Friday closed firmer after strong gains in the resources, retail and telecommunication sectors. The benchmark S&P/ASX200 index was up 49.2 points, or 1.07 per cent, at 4654.7 points and the broader All Ordinaries index was up 49.9 points, or 1.07 per cent, at 4716. On the ASX 24, the September share price index futures contract was up 51 points at 4636 with 27,867 contracts traded.

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In the resources sector, BHP Billiton gained 53 cents to $44.45 and Rio Tinto added 90 cents to $84.35. BlueScope Steel lost five cents, or 3.57 percent to $1.35 as investors pulled out ahead of this Sunday's outlining of the carbon tax by the federal government. Among the banks, ANZ added 13 cents to $21.90, National Australia Bank gained 10 cents to $25.12, Commonwealth Bank added 38 cents to $51.77 and Westpac was up 37 cents at $22.24. Preliminary national turnover was 2.19 billion shares worth $4.47 billion, with 751 stocks up, 351 down and 338 unchanged.

The Australian dollar pushed towards its highest levels of the week Friday as an upbeat U.S. jobs report from payroll giant ADP lifted riskier currencies. The Australian dollar was further helped by news the European Central Bank will waive minimum ratings requirements to accept Portuguese debt as collateral. These developments, however, were equally detrimental to both ends of the Australian bond curve. As the U.S. dollar pushed lower in Asian trade, the central banks of South Korea and the Philippines were both seen entering the foreign exchange market. Still, that buying did little to keep the Australian dollar from gaining as the ADP report has caused expectations to improve ahead of Friday's key nonfarm payrolls report for the U.S. The Australian dollar was at $1.0781, up from $1.0735 late Thursday and up from $1.0699 before a strong local jobs report in Australia on Thursday. Against the Japanese yen, the Australian dollar was at 87.64, up from 86.895.

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