Fourth week of ASX gains as rate cut fuels market

By Stephen Cauchi
Updated May 6 2016 - 5:23pm, first published 5:06pm
The prospect of further rate cuts put some pep in Friday's sharemarket, with the benchmark S&P/ASX 200 index closing 0.2 per cent higher to 5292.0. Photo: Nicholas Rider
The prospect of further rate cuts put some pep in Friday's sharemarket, with the benchmark S&P/ASX 200 index closing 0.2 per cent higher to 5292.0. Photo: Nicholas Rider

Australian shares managed a fourth successive week of gains after a packed five days of economic and company news, including an interest rate cut, the Federal Budget, three major banks reporting earnings, and a revision of inflation forecasts to below 2 per cent.

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