Australia, NZ: Australia shares notch up biggest weekly gain of 2016, NZ at record high

[SYDNEY] Australian shares edged to near two-month highs, clocking their biggest weekly percentage advance since Oct 2015, as commodity price gains underpinned the mining and financial sectors, while New Zealand stocks also struck a record peak.

The S&P/ASX 200 index ended up 8.9 points, or 0.2 per cent, at 5,090.0, the highest close since Jan 6. The benchmark added 4.3 per cent for the week, its best since the week ended Oct 9, 2015.

New Zealand's benchmark S&P/NZX 50 index rose 37.3 points, or 0.6 per cent, to finish the session at a record 6,418.1, up 3.1 per cent for the week.

REUTERS