Share prices closed sharply higher, led by solid gains by Westpac Bank Corp after its record full year profit report and blue chip resources stocks including index leader BHP Billiton, dealers said. They said Westpac claimed the majority of interest following its record 2.82 bln aud net profit for the September fiscal year. The key S&P/ASX 200 index broke through the psychology important 4,500 barrier to close up 57.4 points or 1.29 pct at 4,513.7, off the day's high of 4,520.5 and a low of 4,468.3. The All Ordinaries index jumped 52.1 points to 4,460.9. Dealers said investors appear to have put concerns about rising oil prices and inflationary pressures, which sparked a sell-down in October, behind them. They said rising confidence saw investors refocus on stocks with strong earnings growth including the resources sector which was helped by gains in gold and base metal prices.