Aussie market closes higher on Friday

The Australian market has held onto early gains to close higher on Friday, ending a volatile week that priced in expected stimulatory and inflationary pressures from the United States.

At the close, the benchmark S&P/ASX 200 index was up 20.9 points, or 0.39 percent at 5,359.4 points, while the broader All Ordinaries index was up 18.6 points, or 0.34 percent at 5,427.5 points.

Aussie stocks had a risk-on feel since the open after positive sentiment from the United States flowed.

For the week however, Australian stocks gave up their 3.7 percent gain following the election of Donald Trump to the U.S. Presidency, closing 0.2 percent down on a rising U.S. dollar and bond yields, while commodities stumbled.

"The past week saw most advanced country share markets, bond yields and the US dollar continue to push higher as investors continue to focus on prospects for fiscal stimulus and deregulation under a Donald Trump presidency," AMP Capital head of investment strategy Shane Oliver told News Corp.

On Friday, ANZ was up 0.11 percent, the Commonwealth Bank of Australia added 0.27 percent, the National Australia Bank lifted 0.42 percent and Westpac gained 0.32 percent.

BHP Billiton added 0.17 percent, however rival Rio Tinto shed 0.38 percent while gold miner Newcrest slumped 2.99 percent.

Oil Search gained 1.18 percent, Woodside Petroleum was 0.44 percent stronger, but Santos lost 1.52 percent,

Wesfarmers and rival Woolworths were 0.51 percent and 0.43 percent weaker respectively.

Qantas rose 0.32 percent and telecom giant Telstra climbed 1.82 percent. Endit