SYDNEY, AAP – Australia’s share market climbed to record heights for the third time this week after big contributions from bank and energy shares.

The ASX200 rose to 7281.8 points at about 1141 AEST on Thursday amid a broad-based rally.

Financial shares, which comprise a large part of the market, were higher by 0.96 per cent.

The biggest stock on the market, the Commonwealth Bank, set a record price of $101.85.

Energy shares surged by 3.27 per cent a day after OPEC decided not to increase supply by more than planned.

The benchmark S&P/ASX200 index closed higher by 42.3 points, or 0.59 per cent, to 7260.1.

The All Ordinaries closed up by 41.8 points, or 0.56 per cent, to 7510.7.

The Australian dollar was buying 77.30 US cents at 1620 AEST, lower from 77.36 US cents at Wednesday’s close.