Australia shares bounce after last week's selloff, earnings cues eyed

Mon Feb 10, 2014 12:23am EST

(Updates to close)

SYDNEY Feb 10 (Reuters) - Australian shares rallied 1.1 percent on Monday, with banks leading the charge following a jump on Wall Street, though activity was subdued ahead of a batch of corporate earnings reports later in the week.

The S&P/ASX 200 index climbed 55.6 points to finish at 5,222.1, its third consecutive session of gains. The benchmark rose 0.7 percent on Friday, but the gain wasn't enough to prevent the fifth straight week of losses.

New Zealand's benchmark NZX 50 index slipped 0.2 percent to finish the session at 4,833.1. (Reporting by Thuy Ong; Editing by Shri Navaratnam)