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The top banks pushed the market higher, with National Australia Bank , the only one with holdings in Europe, leading the pack with a 2.5 percent jump.
Macquarie Group , surged 3.3 percent, coming off more than two-year lows hit last week.
The benchmark S&P/ASX 200 index climbed 46.9 points to close at 4,602.9, and ended the week up 2.9 percent, posting its biggest weekly gain in eight months.
Copyright Reuters, 2011