Aussie share market closes higher

The Australian share market closed higher on Friday.

At 4:15 p.m. (AEST), the benchmark S&P/ASX 200 index was up 13.2 points, or 0.25 percent, at 5,246.6 points, while the broader All Ordinaries index was up 16.6 points, or 0.31 percent, at 5,327 points.

IG market analyst Angus Nicholson told Xinhua that the Australian share market did see further gains today although they were trimmed back from some of the levels that were hit during the session.

"The materials sector really was a clear winner today," Nicholson said.

"That seems to have been driven largely by big performances we've seen in industrial metals overnight."

He noted that there were also expectations being factored in of a Reserve Bank of Australia rate cut in August.

At the close, ANZ lost 1.16 percent, the Commonwealth Bank of Australia was down 1.02 percent, the National Australia Bank fell 0.83 percent, and Westpac was down 0.54 percent.

BHP Billiton closed 2.09 percent higher, rival Rio Tinto was up 1.14 percent while gold miner Newcrest closed the day 4.17 percent higher.

Oil Search was up 2.70 percent, Santos rose 0.22 percent and Woodside Petroleum closed the day 0.89 percent lower.

Wesfarmers gained 0.10 percent while Woolworths was down 0.67 percent.

Qantas closed the day 2.13 percent lower, while Telstra closed the day 0.18 percent higher. Endit