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Shares up on commodity gainsThe Australian share market has ended the day more than 1 per cent higher, buoyed by a boost in commodities and a strong lead from Wall Street, after the US Federal Reserve kept rates on hold.

The All Ordinaries Index finished the session 58 points up at 4,867, and the ASX 200 added 56 points to close at 4,853.

Rio Tinto and BHP Billiton benefited from the surge in resources, with both miners gaining more than 1 per cent to $76.70 and $43.30 respectively.

In the banking sector, ANZ led the gains, adding almost 2 per cent to close at $24.61.

Westpac added about 1.5 per cent to $27.34, and NAB reversed earlier losses to finish a modest 8 cents higher at $26.83.

It was also a good day for David Jones – the retailer gained 1.2 per cent to $5.13 after delivering a record first-half profit of just over $100 million.

The department store is maintaining its second-half profit forecast for profit growth of five to 10 per cent, but refused to offer a sales guidance saying the next few months will be volatile because last year’s comparable period was boosted heavily by the Federal Government’s stimulus payments.

Elsewhere in the retail sector it was fairly mixed: Woolworths surged 1.5 per cent higher to $28.72, but Wesfarmers lost about the same percentage to close at $31.00.

Telstra had another day of gains – the telco closed up about 0.6 of a per cent at $3.13.

However, shares in grain wholesaler AWB tumbled more than 11 per cent to 93.5 cents after the company downgraded its full-year guidance.

Currencies and commodities

West Texas crude oil was fetching $US82.17 a barrel at around 5:00pm (AEDT), and Tapis was worth $US81.77.

Spot gold was selling for $US1,128 an ounce.

And the Australian dollar was higher at 91.81 US cents

On the cross rates, it was at 83.12 Japanese yen, 66.61 euro cents, 60.32 British pence and $NZ1.29.