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Aussie Market Shrugs off Earlier Falls to Close Higher-Oct 12

The Australian share market closed higher on Thursday, with gains across most sectors helping to brush off falls in the mining sector and earlier dips.

At the close of trade, the benchmark S&P/ASX 200 index was up 22.4 points or 0.39 percent at 5,794.5, while the broader All Ordinaries index was higher 23.3 points or 0.4 percent at 5,864.1.

Most of the big banks rallied, with ANZ up 0.33 percent, Westpac Bank higher 0.6 percent and National Australia Bank up 0.94 percent. Commonwealth Bank edged down 0.04 percent.

Mining stocks did not manage to bounce back fully from weakness in the sector, with BHP down 1.73 percent, Rio Tinto lower 1.39 percent, Fortescue Metals down 1.82 percent and Newcrest Mining falling 1.4 percent.

The country's oil and gas producers clocked gains, with Woodside Petroleum up 1.03 percent, Santos higher 1.84 percent and Oil Search rising 0.56 percent.

Australia's largest supermarket chains also ended higher with Wesfarmers rising 1.21 percent and Woolworths edging up 0.04 percent.

Telecommunications giant Telstra gained 0.29 percent, national carrier Qantas climbed 0.72 percent and biomedical firm CSL rose 0.83 percent.

(www.chinaview.cn 2017-10-13)