Australian shares have powered to new highs for a fifth consecutive day as the unprecedented bull run continues.

The benchmark S&P/ASX200 index finished Monday up 15.4 points, or 0.22 per cent, to finish at 7,079.5 points after reaching a new high of 7092.5 in morning trade.

The broader All Ordinaries gained 16 points, or 0.22 per cent, to 7,196.3.

The Australian dollar was buying 68.83 US cents at noon AEDT.