SYDNEY, AAP – Australia’s share market closed higher for the third consecutive day and at 11-month highs, as investors welcomed the beginning of Joe Biden’s presidency and economic stimulus plans.

The S&P/ASX200 benchmark index closed higher 53.3 points, or 0.79 per cent, to 6823.7 on Thursday.

The index has not closed this high since February 25.

The All Ordinaries closed higher 56.1 points, or 0.8 per cent, at 7107.1.

Information technology was the standout sector, up 2.7 per cent.

Earlier, US markets closed higher as Joe Biden, who has pledged to deliver $US1.9 ($A2.4) trillion in economic stimulus, was sworn in as US president

The Australian economy also had favourable news. The unemployment rate dropped to 6.6 per cent in December as another 50,000 people found jobs in the month.

The Aussie dollar was buying 77.73 US cents at 1617 AEDT, higher from 77.29 US cents at Wednesday’s close.