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SYDNEY, AAP – Australia’s share market has closed higher and moved within striking distance of its record high set in February last year.

The S&P/ASX200 benchmark index closed higher by 40.2 points, or 0.59 per cent, to 6880.7 on Monday.

The All Ordinaries closed higher by 47.9 points, or 0.67 per cent, at 7160.8.

The ASX200 has since Friday continued to rise above 6800 points, a level which it struggled to top in recent months.

The index reached a record high of 7197.2 in February last year, before much of the world realised the effects of the pandemic.

The Aussie dollar was buying 76.76 US cents at 1617 AEDT, higher from 75.95 US cents at Friday’s close.