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Australian market finishes higher

Xinhua, April 11, 2017 Adjust font size:

The Australian market has finished higher on Tuesday, with banking stocks and the energy sector lifting the index.

At the close of trade the S&P/ASX 200 index was up 16.40 points or 0.28 percent at 5,929.30, while the broader All Ordinaries index rose 15.70 points or 0.26 percent at 5,964.60.

"It was really the bank stocks that drove the improvement today," Commsec market analyst Tom Piotrowski told Xinhua.

"Energy also saw big improvement as the price of oil has firmed."

Piotrowski also added that the index is "in sight of the best levels in two years," looking to break the 6,000 mark.

The Commonwealth Bank of Australia gained 0.71 percent, National Australia Bank added 1.01 percent, Westpac climbed 1.22 percent and ANZ was up 0.35 percent.

Rio Tinto rallied 1.96 percent, BHP Billiton lost 1.24 percent, Fortescue Metals fell 1.48 percent, while Newcrest lifted 0.45 percent.

Woodside Petroleum rose 1.66 percent, Santos was flat at 0.00 percent and Oil Search gained 0.53 percent.

Wesfarmers slid 0.34 percent and Woolworths dropped 0.68 percent.

Telstra was down 0.44 percent, Qantas slipped 0.51 percent and CSL was slightly higher at 0.13 percent. Endit