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Aussie stocks finish week over one percent stronger

Xinhua, October 23, 2015 Adjust font size:

Australian shares finished the week on stronger footing, surging almost 1.7 percent as investors anticipate global stimulus.

At the 4.15 p.m. (AEDT) official market close, the benchmark S&P/ASX200 index was up 87.8 points, or 1.67 percent, to 5351.6, while the broader All Ordinaries rose 88.4 points, or 1.67 percent, to 5388.4.

Friday's close put the local benchmark 1.6 percent higher for the week after a mid-week decline.

All sectors traded well into positive territory, with stocks posting solid gains following signs from the European Central Bank's will introduce further stimulus as early as December.

ANZ shares gained 1.05 percent, the National Australia Bank rose 1.92 percent, the Commonwealth Bank of Australia lifted 1.26 percent while Westpac surged 1.71 percent.

Oil Search added 0.13 percent, Santos gained 2.22 percent while Woodside Petroleum is up 0.48 percent as merger and acquisition fever soaked energy stocks.

BHP Billiton added 2.03 percent, while rival Rio Tinto gained 1.39 percent.

Wesfarmers strengthened 1.86 percent while Woolworths rallied 3.81 percent.

Qantas remained flat while Telstra is up 1.64 percent. Endit