Shares on track for a positive week
Australia's share market is tracking towards a positive week, as resurgent bank stocks and an easing oil price outweigh soft results from the retail sector.
The S&P/ASX200 gained 44.5 points on Thursday, up 0.5%, to 8,891.5, as the broader All Ordinaries advanced 41.2 points, or 0.46%, to 9,012.6.
Bank stocks lead the gains
A revival in beaten down bank stocks has launched the heavyweight financials sector to its highest level since 10 August, which was days after big four warnings about slumping mortgage applications sparked a major sell-off.
Retailers lose ground after soft updates
Retail stocks were less sought after, with cyclicals tumbling 2% following soft updates from Wesfarmers, JB Hi-Fi and Super Retail.
Aussie dollar edges higher
The Australian dollar is buying 70.52 US cents, up from 70.32 US cents on Wednesday at 5pm.
