Australian stocks: Market at all-time high

MELBOURNE - The record books continue to be rewritten as the Australian sharemarket started the second week of the new year in record-breaking fashion.

Stronger banking and insurance stocks led the local bourse higher, with the benchmark S&P/ASX 200 strengthening 11.7 points to an all-time closing high of 4074.9.

The all ordinaries was in new territory with an 8.9 gain to 4071.7.

The indexes beat the previous closing record highs set last Friday of 4063.2 and 4062.8 respectively.

The S&P/ASX 200 touched 4078.1 and the all ords hit 4075.8.

On the Sydney Futures Exchange, the March share price index contract was seven points higher at 4079, a 4.1 point premium to the underlying index, on a volume of 7912.

- NZPA