AU Evening Wrap: Australia Shares Rise 0.4% Amid Bank, Gold Gains

$S&P/ASX 200 (.XJO.AU)$ closed 0.4% higher at 7015.2, paring its week-opening losses amid strength in bank and gold stocks. Coming off Monday's 0.75% decline, the benchmark index recovered from a brief opening wobble to jump 0.9% in early trade before drifting back through the remainder of the session.

Major lenders $Westpac Banking Corp (WBC.AU)$, $CommBank (CBA.AU)$, $ANZ Group Holdings Ltd (ANZ.AU)$ and $National Australia Bank Ltd (NAB.AU)$ added between 0.7% and 1.2%, more than offsetting weakness among insurers.

Iron-ore majors $BHP Group Ltd (BHP.AU)$ and $Rio Tinto Ltd (RIO.AU)$ lost 0.2% and 0.25%, respectively, but gains among shares of gold miners helped the materials sector add 0.3%.