April 22, 2013 / 6:21 AM / 5 years ago

Australia shares end up 0.7 pct on gains for banks, miners

(Updates to close)
    SYDNEY, April 22 (Reuters) - Australian shares closed 0.7
percent higher on Monday as major miners and banks advanced on
short-covering and as gold prices rebounded, but buyers remained
tentative ahead of key economic data due later this week.
    Global miner BHP Billiton pared earlier losses and
ended 1.0 percent higher, while rival Rio Tinto Ltd 
jumped 1.5 percent. Australia's biggest lender Commonwealth Bank
of Australia rose 0.8 percent. 
    The S&P/ASX 200 index added 34.7 points to 4,966.6,
according to the latest data, taking its cue from a strong
finish on Wall Street on Friday and a rebound in gold prices. 
    The benchmark rose 0.2 percent on Friday, but suffered its
biggest weekly loss in almost one month as the plunge in
commodities and concerns about global growth heightened worries
about demand for the resource-rich nation's raw materials.
    New Zealand's benchmark NZX 50 index rose 0.9
percent to 4,483.7.

 (Reporting By Maggie Lu Yueyang; Editing by Shri Navaratnam)
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