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Australian shares hit over 7-week high as banks, energy stocks gain; Coles tumbles
Australian shares hit a more than seven-week high on Friday as banks and energy stocks advanced, while supermarket operator Coles fell over 10% and headed for its worst session ever after missing quarterly revenue estimates by a narrow margin. The S&P/ASX 200 index rose 1.1% to 8,992.60 by 0017 GMT, hitting its highest since September 8. The benchmark was up more than 2% for the month, putting it on track for its strongest monthly performance in three months. Investors were awaiting the Reserve Bank of Australia’s (RBA) November 3 policy decision after the US Federal Reserve and the Europe...
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