SYDNEY, AAP – The Australian share market has bounced back from its three-day losing streak, with gains nearly across the board as traders snapped up cheap shares in major miners and oil producers.

The benchmark S&P/ASX200 index closed up 95.7, or 1.3 per cent, to 7,356.9, while the broader All Ordinaries finished up 95.4 points, or 1.3 per cent, to 7,642.4.

The Australian dollar had sunk to a two-month low of 71.09 US cents, from 71.71 US cents at Wednesday’s close.