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The Financial Express

ASX ticks up after global stocks rally

Published: December 22, 2017 15:26:57


File Photo (Reuters) File Photo (Reuters)

Australian shares ticked up on Friday, following a strong lead from global markets, while materials stocks extended gains on higher commodities prices.

Wall Street stocks rose on Thursday in the wake of data pointing to steady growth in the US economy, with financial stocks leading gains. The pan-European STOXX 600 index ended 0.6-per cent higher.

Locally, the S&P/ASX 200 index climbed 0.2 per cent or 9.3 points to 6,069.7 at the close of trade. The benchmark declined 0.3 per cent on Thursday and gained 1.2 per cent on a weekly basis.

Mirroring their US counterparts, financials led the gains on the benchmark Australian index, reports Reuters.

The index heavyweights Commonwealth Bank of Australia and Westpac Banking Corp rose 0.7 per cent and 0.3 per cent, respectively.

Global miner BHP rose 0.9 per cent to a more than 2-1/2 year high, while its rival Rio Tinto Ltd climbed 0.8 per cent to its highest close since Nov. 9.

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