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Aussie shares end at one-week high; New Zealand up

Published 10/03/2017, 05:29 pm
Updated 10/03/2017, 05:30 pm
© Reuters.  Aussie shares end at one-week high; New Zealand up
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March 10 (Reuters) - Australian shares closed at their best level in more than a week on Friday, as financial stocks surged in anticipation of an imminent U.S. interest rate hike next week. S&P/ASX 200 index .AXJO rose 0.6 percent or 34.4 points to 5,775.60 at the close of trade. The benchmark index fell 0.32 percent on Thursday. For the week, the index gained 0.8 percent.

The region's financial index .AXFJ closed at its highest since April 2015 in its fifth consecutive session of gains.

Macquarie Group MQG.AX led the gains among financials, posting its highest close in nearly 10 years.

The "big four" banks also closed high, with Westpac Banking WBC.AX finishing at its highest since May 2015.

Also closing firmer were healthcare stocks, rallying as the Republican plan backed by President Donald Trump to overhaul the U.S. healthcare system cleared its first hurdles in Congress. company CSL Ltd CSL.AX closed at a record high.

On the flipside, materials stocks continued to lose due to weak commodity prices. GOL/ IRONORE/

The metals and mining index .AXMM closed at its lowest in more than 2 months in its fourth consecutive session of losses.

Top miners BHP Billiton (LON:BLT) BHP.AX and Rio Tinto (LON:RIO) RIO.AX closed at their lowest since November 2016 and December 2016, respectively.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.51 percent or 36.61 points to finish the session at 7,177.59.

The index gained 0.23 percent this week.

Healthcare stocks pushed up the index, with medical device maker Fisher & Paykel Healthcare FPH.NZ racing up to close at a near 5-month high.

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