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The Economic Times
The Economic Times
Business

Global Market: Australian shares log best week in 3 as Fed-hike bets cool; banks, miners lead

Australian shares logged their best week in three on Friday, with gains in miners and banks, as global risk sentiment improved after softer-than-expected U.S. jobs data eased further Federal Reserve ‌rate-hike bets.

The ⁠S&P/ASX 200 ⁠index closed 1.4% higher at 8,844.40 points, its highest closing level since June 18 and best day since June 12. For the week, the index gained 0.9%, its best since the week ended June 12.

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