The Australian share market has rallied, with all sectors posting gains as the epidemic showed some signs of plateauing in Europe.

The S&P/ASX200 benchmark index finished Monday up 219.3 points, or 4.33 per cent, to 5,286.8, while the All Ordinaries index rose 216.7 points, or 4.24 per cent, to 5,323.6 points.

One Australian dollar was buying 60.42 US cents, down from 60.63 US cents at the close of market on Friday.