Australian shares close 0.43pc higher

After surging early, Australia’s share market has eased and closed with modest gains.

The S&P/ASX200 benchmark index closed higher by 28.8 points, or 0.43 per cent, to 6739.6 on Monday.

The index was 1.7 per cent higher at 1200 AEDT, and prior to that reached a high of 6835.6.

The All Ordinaries closed higher by 28.6 points, or 0.41 per cent, at 6971.6.

Materials was the top sector and closed higher by 1.65 per cent.

There were big falls during the session for information technology and health, which closed lower by 1.14 per cent and 0.84 per cent.

The Australian dollar was buying 77.01 US cents at 1616 AEDT, lower from 77.06 US cents at Friday’s close.

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