SYDNEY, AAP – Shares have closed slightly higher on the Australian market, despite losses in the first few hours’ of trading.

The S&P/ASX200 benchmark index closed higher by 6.2 points, or 0.09 per cent, to 6773 on Monday.

The All Ordinaries closed higher by 4.5 points, or 0.06 per cent, at 7019.1.

The top sector was health, up 1.08 per cent.

The materials sector proved a drag, down 0.61 per cent, following a drop in iron ore prices.

The Australian dollar was buying 77.44 US cents at 1615 AEDT, lower from 77.83 US cents at Friday’s close.