Market Update: The Australian share market has performed strongly to reach its highest mark since 2008 in response to gains on global stock markets on Friday night. The S&P/ASX 200 climbed 0.7% higher to 5356 points. Eight of the 10 ASX sectors all reported gains with material companies led the way, rising 1.1% - CDU added 10.7% to $2.39 and SDL up 26.3% to $0.13. Financials were also up with the banks rising between 0.2% to 1.1%. The AUD, that has been rallying on the back of strong economic data from China, has lost some ground today. It dropped 0.1% to US$0.9659. The SPI was up 0.6% at 5,351 points on the Sydney Futures Exchange.