Shares on the Australian market have closed higher and had their best week since July 3, up by 2.02 per cent.

The S&P/ASX200 benchmark index closed higher by 35.2 points, or 0.58 per cent, at 6126.2 points on Friday.

The All Ordinaries index closed higher by 37.8 points, or 0.61 per cent, at 6261.7.

The Australian dollar was buying 71.60 US cents at 1616 AEST, lower from 71.71 US cents at Thursday’s close.