SYDNEY, AAP – Australia’s share market extended its longest winning streak this year to five days as soaring commodity prices helped associated stocks.

The market gained about half a per cent on Thursday as stocks based on coal, oil and metals soared due to concerns Russia will struggle to supply them under economic sanctions.

Energy and materials shares were best and each gained two per cent.

The benchmark S&P/ASX200 index closed up 34.7 points, or 0.49 per cent, to 7151.4 points.

The All Ordinaries index closed higher by 40.5 points, or 0.55 per cent, to 7446.8 points.

The Australian dollar was buying 73.03 US cents at 1618 AEDT, more than the 72.68 US cents at Wednesday’s close.