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Aussie stocks close higher

Xinhua, October 31, 2016 Adjust font size:

The Australian share market has closed higher.

At the close on Monday, the S&P ASX/200 index was up 33.90 points, or 0.64 percent, at 5,317.7 points and the All Ordinaries was up 31.50 points, or 0.59 percent, at 5,402.40 points.

CMC Markets chief market analyst Ric Spooner told Xinhua the reason why the Aussie index closed higher was because of a growth returned to the banks and the real estate sectors.

"It was a solid day for mining stocks and there was a sharp rise in copper and iron ore prices,' Spooner said.

At the close, ANZ was up 0.83 percent, the National Australia Bank rose 0.32 percent, Westpac fell 0.76 percent, while the Commonwealth Bank of Australia jumped 0.88 percent.

BHP Billiton rallied at 0.39 percent, rival Rio Tinto advanced 0.80 percent while gold miner Newcrest was 5.32 percent higher.

Oil Search fell 1.91 percent, Santos climbed 0.28 percent while Woodside Petroleum surged 0.18 percent.

Wesfarmers added 1.71 percent while rival Woolworths sank 02.39 percent.

Qantas gained 4.08 percent while telecommunication giant Telstra's was 0.61 percent higher at Monday's close. Endit