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Reuters New Zealand

Australia shares up 0.8 pct; banks, resources lead

Friday June 19, 01:20 PM

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(Adds analyst comment, stocks)

WELLINGTON, June 19 (Reuters) - Australian shares rose 0.8 percent on Friday, with resource stocks gaining on firmer commodity prices and banks benefiting from a rise in their U.S. counterparts.

Positive U.S. economic data data that helped Wall Street rise offered support to the Australian market, which had fallen for four straight days to Thursday on concern it may have got ahead of itself in a recent rebound.

"A small rebound in commodity prices has assisted the miners today, and, following the strong lead from Wall Street, financials are also up," said Simon Bonouvrie, portfolio manager at Platypus Asset Management.

The S&P/ASX 200 index .AXJO was 30.7 points higher at 3,922.8 at 0100 GMT.

New Zealand's benchmark NZX 50 index .NZ50 was up 0.1 percent at 2,802.0.

STOCKS ON THE MOVE

* Mining stocks lead the gains with Minara Resources (ASX: MRE.ax) up 5.6 percent to A$0.85, and Murchison Metals MMX.AX up 4.3 percent to A$1.69. Global giant BHP Billiton (ASX: BHP.ax) rose 1.4 percent to A$35.20, while rival Rio Tinto (ASX: RIO.ax) fell 1.8 percent to A$51.56.

0035 GMT

* Australia & New Zealand Banking Group (ASX: ANZ.ax) rose 1.6 percent to A$16.61, Commonwealth Bank of Australia (ASX: CBA.ax) was 1.2 percent higher at A$38.51, National Australia Bank (ASX: NAB.ax) gained 0.9 percent to A$22.25 and Westpac Banking Corp (ASX: WBC.ax) was up 0.8 percent at A$20.06.

0035 GMT

* Macquarie Group Ltd MQG.AX, Australia's top investment bank, rose 2.2 percent to A$37.77. It said it would book a A$130 million profit in fiscal 2010 on the sale of securities. [nSYU006723]

0035 GMT

More Quotes and Company Information:
  • AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (ASX: ANZ.ax)
  • BHP BILLITON(ASX: BHP.ax)
  • COMMONWEALTH BANK OF AUSTRALIA.(ASX: CBA.ax)
  • MINARA RESOURCES LIMITED(ASX: MRE.ax)
  • NATIONAL AUSTRALIA BANK LIMITED(ASX: NAB.ax)
  • RIO TINTO LIMITED(ASX: RIO.ax)
  • WESTPAC BANKING CORPORATION(ASX: WBC.ax)

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