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Australia: Shares rise as banks ride rate cut hopes, NZ firmer

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[SYDNEY] Australian shares ignored Wall Street's downbeat cue to rise on Friday as resources stocks rode a commodity rally higher and banks firmed on hopes of a rate cut.

New Zealand shares also gained.

The S&P/ASX 200 index rose 26.77 points to 5252.20 at the close of trade. The benchmark rose 0.51 per cent.

New Zealand's benchmark S&P/NZX 50 index gained 0.45 per cent or 30.60 points to finish the session at 6820.58.

REUTERS