Thanks afternoon crew.
End-of-day wrap:
Aussie shares swung to their first gain in five sessions as the big banks rallied and a rebound in iron ore helped the materials sector bounce off a three-week low.
The ASX 200 flipped a 24-point morning loss into a final gain of 36 points or 0.5%. The heavily-weighted banks added to their initial gains, while the bulk metal producers joined in late morning as ore prices gained 2.1% in China.
Today's rise in ore prices followed positive Chinese economic data. A report today showed a sharp increase in lending last month after the Chinese government urged financial institutions to support the economy by loosening their purse-strings. New loans jumped to 1.36 trillion yuan from 345.9 billion in July.
A separate report over the weekend showed Chinese consumer prices edged higher last month, soothing fears of a deflationary spiral as the economy lost momentum. The China consumer price index rose 0.1%. Producer prices contracted by 3%, in line with expectations and by less than the previous month.
