Banks help Aussie shares snap three-day losing streak
By Adrian Black
Australia's share market has broken a three-day loss streak, but market sentiment remains cautious. -AAP Image
Australian shares have notched their first positive session for the week as inflation and bond market jitters ease, but ex-dividend drops in BHP, Woodside and Coles have limited the upside.
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The S&P/ASX rose 41.7 points on Thursday, up 0.46 per cent to 9,020.1, as the broader All Ordinaries gained 38 points, or 0.41 per cent, to 9,198.3.
Rebounding bank stocks helped lift the heavyweight financials sector more than one per cent to its highest level in more than two weeks, as local bond yields retreated from Wednesday's spike.
Gold miners were among the top-200's best performers as the precious metal recovered to $US4,434 ($A6,191) an ounce, thanks largely to easing US Treasury yields and a softer greenback.
The Australian dollar is buying 71.63 US cents, up from 71.39 US cents on Wednesday at 5pm.
