Aussie shares bounce back

The Australian share market, buoyed by resurgent mining stocks, ended the week 0.6 percent higher.

The All Ordinaries index rose 37 points to 6,617 and the ASX 200 jumped 39 points to 6,605.

Investors remained cautious, however, awaiting U.S. job figures due out Friday that could result in the U.S. Federal Reserve adjusting interest rates.

Shares in Fortescue Metals Group led the mining rally, jumping 1.5 percent to $44.31 while Rio Tinto rose 1.3 percent to $95.96 and BHP Billiton closed 31 cents up at $39.31.

The banks had a mixed day with National Australia Bank up 0.5 percent at $36.33 but the Commonwealth Bank dropped 11 cents to $50.86.

Spot gold fetched $736 an ounce and a barrel of West Texas crude oil was worth $81.

The Australian dollar was buying 88.89 cents, 103 Japanese yen and 62 euro cents. // Copyright 2007 by United Press International

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