SYDNEY, AAP – Shares climbed to record heights on the Australian market after materials and energy stocks thrived on higher iron ore and oil prices.

The ASX200 hit an all-time high (7218.9 points) and had a record close after materials shares rose 1.92 per cent and energy shares gained 4.05 per cent.

Investors seem unconcerned by the coronavirus lockdown being extended for people in Melbourne.

The benchmark S&P/ASX200 index closed higher by 75.2 points, or 1.05 per cent, to 7217.8 on Wednesday.

The All Ordinaries closed up by 76.8 points, or 1.04 per cent, to 7468.9.

The Australian dollar was buying 77.36 US cents at 1618 AEST, lower from 77.39 US cents at Tuesday’s close.