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Australian shares lifted by banks and resource stocks, NZ ticks up

Published 01/08/2017, 04:36 pm
Updated 01/08/2017, 04:40 pm
© Reuters.  Australian shares lifted by banks and resource stocks, NZ ticks up
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Aug 1 (Reuters) - Australian shares ended in positive territory on Tuesday, supported by upbeat bank stocks and resource counters climbing as commodity prices rallied.

The S&P/ASX 200 index .AXJO rose 51.81 points, or 0.9 percent, to 5,772.4 at the close of trade. The benchmark rose 0.3 percent on Monday.

Commonwealth Bank of Australia CBA.AX rose about 1 percent while Westpac Banking Corp WBC.AX added around 0.8 percent.

An index of energy stocks .AXEJ settled a little over 2 percent higher after touching its highest in almost seven weeks at one point.

Global miner BHP Billiton (LON:BLT) BHP.AX headed the robust materials sector, ending 1.2 percent higher. BHP denied a newspaper report that it had agreed to sell its stake in the Samarco iron ore mine to its partner Vale VALE5.SA . ore prices extended gains to a third day on strong restocking demand. IRONORE/

Australian manufacturing activity continued to expand in July, a survey showed on Tuesday, while the central bank kept its interest rates steady after a policy meeting. the trend, Navitas NVT.AX Australia's biggest listed private educator, ended 10.1 percent lower after annual profits missed forecasts. Zealand's benchmark S&P/NZX 50 index .NZ50 rose 35.45 points, or 0.5 percent, to finish the session at 7,729.44.

The telecom sector led the gains, with Spark New Zealand SPK.NZ the biggest gainer, closing 2.9 percent higher.

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