• SYDNEY, AAP – Shares have closed marginally higher on the Australian market as investors steady themselves at heights of more than 7000 points.The benchmark S&P/ASX200 index closed up 5.3 points, or 0.08 per cent, to 7060.7 on Friday.

    The All Ordinaries closed higher by 8.7 points, or 0.12 per cent, to 7320.7 points.

    Shares in financials and telecommunications proved best, rising by 0.4 per cent.

    The market had its first weekly loss in the past five, albeit by only 0.04 per cent.

    The ASX200’s record is 7197.2

    The Australian dollar was buying 77.28 US cents at 1621 AEST, lower from 77.51 US cents at Thursday’s close.