Despite Friday’s stellar performance, with all 11 ASX sectors finishing in positive territory, the Australian share market closed lower for a fourth consecutive week.

The benchmark S&P/ASX 200 index rallied +134.1 points, or +1.93%, to 7,075.1, while the All Ordinaries jumped +141.1 points, or +1.97%, to 7,307.7, while our local currency, the Australian dollar, is currently buying US$0.6890.

Afterpay owner Block Inc was the biggest outperformer, up +15% to $144.88, followed by Life 360 with a lift of +14.3% to $3.51.

A jump in oil prices also supported energy stocks, with Santos adding +3.2% to $8.05 and Woodside Petroleum gaining +2.7%.