Australia shares snap three-day losing run as banks, energy stocks rise By Reuters

Australia shares snap three-day losing run as banks, energy stocks rise

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May 14 (Reuters) - Australian shares rose on Friday after falling for three straight sessions, with banking and energy stocks leading gains, following an overnight rebound on Wall Street as easing worries about inflation supported appetite for growth stocks.

The S&P/ASX 200 .AXJO rose 0.78% to 7,037.5 by 0026 GMT.

Wall Street closed higher overnight, bouncing back from three straight days of selling on upbeat labour market data and as investors snapped up stocks that would benefit from an economic recovery and shrugged off worries about rising prices. .N

Aussie financial stocks .AXFJ climbed 1.26% with all the 'Big Four' banks trading in the black.

Asset manager Janus Henderson Group JHG.AX led the gains, rising 2.93%, followed by investment management Challenger Ltd CGF.AX , gaining 2.67%.

Energy stocks .AXEJ rose 1.28% even as oil prices dropped amid concerns about demand from India and as the hacked Colonial Pipeline in the U.S. restarted. O/R

Sector heavyweight Whitehaven Coal WHC.AX jumped 8.76%, followed by Washington H Soul Pattinson and Company SOL.AX , gaining 2.26%.

World's largest listed winemaker Treasury Wine rose as much as 5.6% to a more than one-month high, as brokerage Jefferies praised its upbeat FY21 outlook. New Zealand, the benchmark S&P/NZX 50 .NZ50 rose 0.4% to 12,477.6.

In other markets, Japan's Nikkei .N225 was up 1.53% at 27,867.18 and S&P 500 E-minis futures EScv1 were up 0.21%.

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