Aussie shares finish the week higher as banks improve
By Adrian Black
Australia's stock market has improved for four of the past five weeks despite persistent headwinds. -AAP Image
Australia's share market has stumbled at the finish line but has closed the week higher as a rebound in recently neglected bank stocks continues.
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The S&P/ASX200 is up 1.28 per cent for the week after rising 16.3 points on Friday, or 0.18 per cent, to 8908.1, while the broader All Ordinaries gained 12.8 points, or 0.14 per cent, to 9025.4.
Non-energy miners also improved despite falling in the last two sessions, snapping an eight-week losing streak caused by soaring oil prices, high bond yields and jitters around artificial intelligence and the global data centre build-out.
Investors increasingly found refuge in financials stocks, which have notched a more than eight per cent advance over three straight weeks of gains.
The Australian dollar is buying 70.40 US cents, down from 70.47 US cents on Thursday at 5pm.
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