Australian shares hit their highest close in three-and-a-half months on Thursday as surging prices for oil and iron ore lifted major mining and energy companies, while New Zealand shares edged up to a fresh record. The S&P/ASX 200 index rose 56.7 points, or 1.1 percent, to 5,272.7 at the close of trade, its third day of gains in a row.
New Zealand's benchmark S&P/NZX 50 index added 4.8 points, or 0.1 percent, to finish the session at 6,906.1, a new all-time peak. Driving the gains was a rousing recovery in iron ore, Australia's single biggest export earner, which hit 10-month highs amid a jump in steel prices in China. The energy sector jumped 2.5, while basic materials added 1.5 percent.
BHP Billiton rose 3.6 percent to its highest since early November, while Rio Tinto added 1.8 percent to reach ground last trod in October. Gold miner Oz Minerals was another gainer, reaching a three-year peak after reaffirming its production guidance.
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