Reuters: Hot Stocks: Australia shares rally, posts highest weekly gain in six weeks

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares rally, posts highest weekly gain in six weeks Nov 30th 2012, 05:34 SYDNEY | Fri Nov 30, 2012 12:34am EST SYDNEY Nov 30 (Reuters) - Australian shares rallied 0.6 percent on Friday to reach a fresh three-week high, bolstered by shares in mining and banks as firmer metals prices and a higher finish on Wall St helped the local market break above the 4,500 level. Global miner Rio Tinto Ltd jumped 2.8 percent, while rival BHP Billiton Ltd added 0.5 percent. Banks were strong, headed by Westpac Banking Corp with a 1.1 percent gain. The benchmark S&P/ASX 200 index was 28.3 points higher at 4,506.0, according to latest data. The benchmark rose 2.1 percent for the week, the largest weekly rise since the beginning of October. New Zealand's benchmark NZX 50 index posted gains of 0.8 percent or 33.3 points to 4,050.1. (Reporting by Thuy Ong; Editing by Richard Pullin)

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