Australian shares closed higher yesterday with rises in most sectors despite resources stocks dragged the market down. The benchmark S&P/ASX200 gained 0.6%, or 21 points, at 3756.6, while the All Ordinaries index was up 0.6%, or 22.4 points, at 3696.4. Banking stocks were stronger ahead of the Reserve Bank of Australia's interest rate decision.
On Friday, the Australian shares closed higher. The benchmark S&P/ASX200 climbed 55.4 points, or 1.51 per cent, at 3,735.6, while the broader All Ordinaries surged 51.8 points, or 1.43 per cent, to 3,674. This week the focus of the local market will be the Reserve Bank of Australia's interest rate decision.