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Australia: Shares rise on Europe stimulus hopes, commodities bounce


[SYDNEY] Australian shares jumped 1.1 per cent on Friday, nudging into positive territory for the week as hopes of more stimulus in Europe and rebounds in prices of iron ore and oil buoyed sentiment.

In its first two-day winning streak for the year, the S&P/ASX 200 index gained 52.0 points, or 1.1 per cent, to finish at 4,916.0, a rise of 0.5 per cent for the week. The benchmark is down 7.2 per cent so in 2016.