Deal hopes help Aussie shares end rocky week in front
The share market has ended the week higher thanks to an expected a Middle East ceasefire extension. -AAP Image
Australia's share market has edged higher after a volatile week, supported by hopes for US-Iran deal and softer-than-expected local inflation that took some pressure off the Reserve Bank.
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The S&P/ASX200 gained 138.8 points on Friday, up 1.62 per cent, to 8,731.7, as the broader All Ordinaries improved by 145.4 points, or 1.65 per cent, to 8,965.
Miners led the charge in a strong closing session, after a prospective US-Iran ceasefire extension softened oil prices and boosted investor sentiment after days of escalating attacks.
Energy and utilities stocks made up the only sectors that finished Friday lower, as Brent crude dropped to six-week lows before a stabilising near $US92 a barrel.
The Australian dollar is buying 71.64 US cents, up from 71.22 US cents on Thursday at 5pm, the Aussie supported by an upswing in risk sentiment.
