SYDNEY, AAP – Australia’s share market has risen to its highest level in more than three and a half months helped by a broad-based rally across sectors as investors largely ignored a surge in Omicron coronavirus cases locally and overseas.

The benchmark S&P/ASX200 index ended 89.5 points, or 1.21 per cent, higher at 7509.8 points on Wednesday.

The All Ordinaries index rose 95.6 points, or 1.23 per cent, to 7840.3 points.

Financial, energy and mining stocks – which have the highest weightage in the indices – led the charge.

Meanwhile, the Australian dollar was largely steady, buying 72.31 US cents at 1620 AEDT, compared to 72.28 US cents at Friday’s close.