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Australia shares post first weekly drop in 8 weeks

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[SYDNEY] Australian shares ended 0.8 per cent higher on Friday, with broad-based gains across all sectors following an upbeat US jobs report and gains in key commodity prices.

The S&P/ASX 200 index was up 40.01 points at 5,318.9 at the close of trade, after three straight sessions of losses. The benchmark dropped 0.8 per cent on Thursday.

The index lost 1.6 per cent this week, after seven straight weekly gains.

After its worst start to a year in decades, the benchmark is now up 0.4 per cent for 2016 so far.

New Zealand's benchmark S&P/NZX 50 index rose 0.30 per cent or 21.26 points to finish the session at 7,024.38.