Australian shares gain to finish tumultuous month flat

ASX indicator boards
The ASX's energy and industrial sectors were the biggest gainers on Friday. -AAP Image

The Australian share market has finished higher, closing out August basically where it started despite a dreadful opening to the month.

The benchmark S&P/ASX 200 index on Friday rose 46.8 points, or 0.58 per cent, to 8,091.9, its highest finish since its all-time closing high set on August 1.

The ASX200 rose 0.85 per cent for the week, its third straight week of gains following a sharp 2.1 per cent decline for the week ending August 9.

It finished the month down less than half a point from where it began as earning season drew to a close.

The broader All Ordinaries on Friday gained 53.1 points, or 0.64 per cent, to 8,316.7.

The Australian dollar was buying 68.02 US cents, from 68.04 US cents at Thursday's close.