SYDNEY, AAP – The Australian share market has lifted nearly one per cent midway through the session, led by a jump in mining stocks and supported by gains in energy and consumer shares.

The benchmark S&P/ASX200 index on Friday was up 68.1 points, or 0.92 per cent, to 7450 points by 1200 AEDT.

The All Ordinaries climbed 71.2 points, or 0.92 per cent, to 7772.4 points.

Sentiment was largely driven by an easing of concerns over Chinese property giant Evergrande, which managed to make coupon payments to avoid a formal default that would have worsened a debt crisis in the country’s debt-laden sector.

The news boosted interest in steel producers as well as mining stocks across the region.

In the local market, iron ore exporters BHP, Rio Tinto and Fortescue Metals were the biggest beneficiaries of the investor sentiment. BHP shares were up 3.2 per cent to $37.84 while Rio and FMG were both up more than four per cent each.

Goldminers also shone, with Evolution Mining and Northern Star Resources up between 1.5 and 2.0 per cent as investors continued to put faith in bullion amid inflation concerns.

Energy stocks were also higher after crude oil prices climbed above $US83 a barrel, with Santos and Oil Search trading more than two per cent each.

Consumer stocks continued their strong run, with supermarket giant Coles up 3.3 per cent to $18.09, while rival Woolworths was up 1.6 per cent at $39.81.

Healthcare shares bucked the trend, with gloves manufacturer Ansell and medical equipment firm ResMed leading the losses.

Shares in junior explorer Greenland Minerals dived nearly 33 per cent to eight cents each after Greenland’s parliament passed legislation to ban uranium mining that will hit the Australian company’s Kuannersuit mine.

The Australian dollar eased to 72.88 US cents against the greenback, down from 73.11 US cents at Thursday’s close.