Australian share market rides high at close

The Australian share market was buoyed by the European Central Bank's billion euro stimulus on Friday to record its biggest weekly gain in two years.

The Australian share market leapt by 1.5 percent at the close on Friday.

The benchmark S&P/ASX200 index was up 81.9 points, or 1.51 percent, at 5,501.8, while the broader All Ordinaries index rose 77.7 points, or 1.44 percent, to 5,468.2.

That came on top of solid gains this week, with the All Ordinaries index finishing 3.6 percent higher for the week, its best performance since December 2012. The ASX200 jumped 3.8 percent, which was its most positive in almost a year.

Energy stocks led the market, jumping 3.23 percent, after the price of crude oil rose 2 percent in the United States following the death of Saudi Arabia's King Abdullah.

Santos shares soared 5.12 percent. Woodside grew 2.32 percent and Oil Search 3.26 percent. Beach Energy rallied 2.14 percent, while AWE was up 3.14 percent and Senex Energy jumped 7.69 percent.

The materials sector added 1.57 percent. BHP Billiton gained 1. 84 percent, and rival Rio Tinto 0.64 percent.

Financial stocks were solid, growing 1.65 percent.

ANZ gained 1.35 percent, the Commonwealth Bank added 1.17 percent and the National Australia Bank also lifted 1.28 percent. Westpac was 1.36 percent higher.

Meanwhile, Telstra was up 1.12 percent and Qantas up as well by 0.43 percent.

Consumer staples were up 0.15 percent, the lowest performing sector on Friday.

Woolworths jumped up 1.32 percent, while rival Wesfarmers dipped 1.03 percent. Endi