Australia shares lifted by energy and miners, NZ slips
Australian shares finished firmer on Friday, helped by energy and mining stock gains but worries about the financial sector weighed after Goldman Sachs cut its target price on Westpac, which faces an explosive lawsuit over financial breaches.
The S&P/ASX 200 index closed 0.6 per cent higher at 6,709.80, while marking its biggest weekly loss in almost two months. The benchmark fell 0.7 per cent on Thursday.
“Today’s bounce back looks like a recapturing of ground,” said Michael McCarthy, chief market strategist at CMC Markets, following the losses of the past two sessions.
Mining stocks ended 1 per cent higher as prices of iron ore rose on the back of strong demand for steel.
