Australia, New Zealand shares buoyed by Opec deal

Australian shares rallied on Thursday, powered by financials, miners and energy stocks, after oil cartel Opec agreed to cut crude output to clear a glut. The S&P/ASX 200 index snapped three sessions of losses to jump 59.73 points, or 1.1 percent, to 5,500.2 by the close of trade.
Global miners BHP Billiton and Rio Tinto climbed 4.9 percent and 1.7 percent respectively. The benchmark financial index extended its strong run, with the "Big Four" banks ending about 1 percent firmer. The sector got a boost from a solid showing in US peers. New Zealand's benchmark S&P/NZX 50 index edged up 0.5 percent, or 35.79 points, to finish the session at 6,932.74. The biggest gainer was a2 Milk Company, rising 4.9 percent to hit a 9-month high.