Australia shares rise 1.7 pct

Australian shares jumped 1.7 per cent to a one-month high on Thursday as top banks and large miners jumped in the final trading hours of the financial year,boosted by short-covering,as well as gains in oil,copper and gold.

Global stocks rallied on relief Greece8217;s parliament approved the first of two austerity bills as it battles a debt crisis. Unwinding of short positions also boosted share values,investors said.

The benchmark Samp;P/ASX 200 index rose 78.52 points to 4,608.0,according to the latest data,its first close above 4,600 since June 1.

The index fell 4.8 per cent for the quarter,its first quarterly fall since dropping 12 per cent a year ago.