(Updates to close)
SYDNEY, July 1 (Reuters) - Australian and New Zealand shares rallied for a third straight session on Friday, with the NZ market recovering all of its Brexit shock fall and the Australian bourse recouping most of its losses.
The S&P/ASX 200 index .AXJO rose 13.23 points, or 0.25 percent, to close at 5,256.6, a one-week high.
For the week, the Australian benchmark gained 2.6 percent.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.42 percent or 28.7 points to finish the session at 6926.23.
(Editing by Richard Borsuk)