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The Australian share market has roared to a new all-time high after enjoying its best week in nearly a year.

The benchmark S&P/ASX200 index finished Friday up 54.8 points, or 0.8 per cent, to 6,929 points, while the broader All Ordinaries closed above 7,000 for the first time, finishing up 50.5 points, or 0.72 per cent, at 7,041.9 points.

Meanwhile, the Australian dollar was buying 68.75 US cents, down from 69.74 at Thursday’s close.