Australian shares have finished almost one per cent higher as investors continue to buy into local companies following better than expected earnings results this week.
At the close on Friday, the benchmark S&P/ASX200 index was up 39.9 points, or 0.92 per cent, at 4,370.1, while the broader All Ordinaries index was up 40.3 points, or 0.93 per cent, at 4,393.8.
On the ASX 24, the September share price index futures contract was 46 points higher at 4,329 with 26,145 contracts traded.
Fat Prophets analyst Gavin Wendt said the Australian stock market recorded its longest run of advances since August 2010, rising 2.2 per cent this week.
"The market is slowly building confidence and investors have been pleasantly surprised by the companies that have reported," Mr Wendt said.
"Everyone's known our stocks are cheap and reporting season has underlined how strong our earnings are."
In the resource sector Rio Tinto jumped 60 cents or 1.1 per cent to $55.35, while BHP Billiton rose 12 cents, or 0.3 per cent to $33.00.
Shares in Fortescue Metals climbed eight cents to $4.20.
The big four banks all saw their value increase.
Shares in ANZ climbed 71 cents or 2.97 per cent to $24.61 following a better than expected profit announcement.
Westpac rose 38 cents to $24.50, while the Commonwealth Bank and the National Australia Bank were both up half a per cent.
In local equities news shares in QBE insurance fell 61 cents or 4.5 per cent to $13.05, despite lifting its first half profit by 13 per cent to $US760 million ($A726.33 million).
Shares in oil and gas producer Santos rose 3.15 per cent to $11.78 after the company reported a boost to its underlying profit.
National turnover was two billion shares worth $4.2 billion, with 659 shares up, 328 down and 317 unchanged.
The price of gold in Sydney closed at $US1,617.95 cents per fine ounce, up $US15.36 from $US1602.59 on Thursday.
National turnover was 1.59 billion shares worth $4.65 billion, with 525 up, 367 down and 344 unchanged.
