Australian shares rise as blue chips follow Wall St lead

Tue Mar 26, 2013 11:19pm GMT

(Updates to open)

SYDNEY, March 27 (Reuters) - Australian shares gained 0.6 percent on Wednesday led by blue chip miners and financials on strong resource prices and after the Dow Jones Industrial Average posted a record high.

Global iron ore miners BHP Billiton Ltd and Rio Tinto Ltd both climbed 1 percent.

Banks all gained, lead by Westpac Banking Corp which added 0.6 percent.

The benchmark S&P/ASX 200 index rose 27.1 points to trade at 4,977.3 by 2310 GMT. It fell 0.8 percent on Tuesday, its lowest close since February 7.

New Zealand's benchmark NZX 50 index rose 0.6 percent or 27.9 points to 4,373.9. (Reporting by Thuy Ong; Editing by Stephen Coates)

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