Australia’s share market delivered gains for the seventh consecutive session after impressive results for some of its biggest names.

The S&P/ASX200 benchmark index closed higher by 40.8 points, or 0.61 per cent, to 6728.5 on Wednesday, after a good lead from US markets on coronavirus vaccine progress.

The All Ordinaries rose 43.2 points, or 0.62 per cent, to 6965.4.

Healthcare was the top sector, up 2.08 per cent, after CSL gained 2.2 per cent to $304.14.

CSL will manufacture the AstraZeneca coronavirus vaccine, which was found to be generally safe in a clinical trial.

The Commonwealth Bank rose 1.67 per cent to $83.18 after revealing it will receive more than first expected from the sale of its stake in a Chinese life insurance provider.

Iron ore miners BHP and Fortescue gained more than one per cent.

Before trade, Wall Street markets closed higher after Pfizer cleared the next hurdle in the race to get its COVID-19 vaccine approved for emergency use in the US.

The Aussie dollar was buying 74.38 US cents at 1627 AEDT, higher from 74.25 US cents at Tuesday’s close.