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Australia shares end higher after initial struggle; NZ slips

Published 07/10/2015, 04:32 pm
Updated 07/10/2015, 04:38 pm
© Reuters.  Australia shares end higher after initial struggle; NZ slips

(Updates to close)

SYDNEY, Oct 7(Reuters) - Australian shares ended 0.6 percent higher on Wednesday, making a third straight day of gains as resources and energy-related shares took heart from a sharp rebound in oil prices overnight.

The S&P/ASX 200 index .AXJO fell 0.6 percent in late morning deals but recovered to finish 30.5 points higher at day's peak of 5,197.9. The benchmark rose 0.3 percent on Tuesday.

Energy stocks were top winners on the index with LNG LNG.AX , Santos STO.AX and Origin ORG.AX surging by between 10 percent and 21.6 percent.

Major banks rebounded in late trade, with ANZ Banking ANZ.AX and NAB NAB.AX both up 0.9 percent.

The benchmark is now up 2.9 percent for the week, on track for its best weekly performance since July 17.

New Zealand's benchmark NZX 50 index fell 0.3 percent, or 18.08 points, to finish the session at 5,650.03.

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