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AAP
AAP
Business
Adrian Black

Sea of green as Aussie shares notch highest-ever close

United States Australia TPG
The Australian stock market has closed at a record high on the prospect of cheaper borrowing costs. (Bianca De Marchi/AAP PHOTOS)

Australia's share market has posted its best-ever close as confidence around company earnings and future interest rate cuts washed out global growth concerns.

The S&P/ASX200 surged 106.7 points higher, up 1.23 per cent, to 8,770.4, while the broader All Ordinaries shot 106.8 points higher, or 1.20 per cent, to 9,028.8.

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