SYDNEY/WELLINGTON, Aug 5 (Reuters) - Australian shares rose on Friday, driven by commodity prices and as an aggressive easing package announced overnight by the Bank of England stokes global risk appetite.
The S&P/ASX 200 index .AXJO rose 21.5 points, or 0.4 percent, to 5,497.5 points by 0330 GMT.
"It's really the latest central bank stimulus, this time from the Bank of England overnight," said David Walker, senior equities analyst at fund manager Clime Asset Management.
"Since Brexit, markets have been buoyed mainly by large, coordinated central bank stimulus...markets love this, this has driven markets higher despite very little earnings growth."
Australia's bourse has rallied 7.54 percent since the Brexit vote. However, this week it backed away from a one-year high, falling 1.1 percent.
On Friday the mining sector, which comprises a fifth of the index, made solid gains.
Fortescue Metals Group FMG.AX stock added 4.1 percent. Several brokers raised their target price for Fortescue last week, after the miner said it had reduced production costs. Fellow iron-ore majors posted gains, with BHP Billiton (LON:BLT) Ltd BHP.AX adding 3 percent and Rio Tinto (LON:RIO) RIO.AX up 1.5 percent.
Gold stocks also rose, as the precious metal held on to gains made earlier in the week.
Newcrest Mining Ltd NCM.AX shares were up 1.5 percent and Evolution Mining Ltd EVN.AX rose 2 percent.
Other major movers included Downer EDI Ltd DOW.AX , which was up as much as 4.7 percent after Deutsche Bank (DE:DBKGn) raised its target price for the stock. Tabcorp TAH.AX stocks rose 3.8 percent after Morningstar lifted its rating on the gaming stock.
Virgin Australia Holdings Ltd VAH.AX added 2 percent, after Singapore Airlines SIAL.SI said it had increased its shareholding in the carrier and it released results. Virgin said last week it lost $A224.7 million for the year to June 30. more individual stocks activity click on STXBZ
New Zealand's benchmark S&P/NZX 50 index .NZ50 edged marginally higher on Friday. It rose 9 points, or 0.1 percent, to 7,307.02 points. Low volumes traded as investors waited for company earnings season kicking off next week.
The index was poised for a weekly loss of 0.74 percent, after five consecutive weeks of gains.
Retirement village operator Summerset SUM.NZ led losses, down 1 percent, while Auckland Airport AIA.NZ lost 0.7 percent.
Outdoor equipment retailer Kathmandu KMD.NZ lost 0.5 percent after the company rose as much as 6.4 percent in the previous session on higher earnings guidance. New Zealand AIR.NZ led gains, rising 0.9 percent while rubber goods manufacturer Skellerup SKL.NZ rose 0.7 percent.