(Updates to close)
Oct 3 - Australian shares trimmed losses from the previous
session to close higher on Monday, buoyed by financials on
reports that Deutsche Bank was nearing a settlement with U.S.
authorities over the sale of toxic mortgage bonds.
The S&P/ASX 200 index perked up 0.8 percent or 42.57
points to 5,478.5 at the close of trade.
Deutsche Bank shares, which hit a record low on
Friday, extended their recovery after AFP's report that the bank
was near a settlement of $5.4 billion.
Gains in Australia's "Big Four" banks lifted the financials
index, which rebounded from previous session losses, to
settle 1.5 percent up.
Cattle and beef producer Australian Agricultural Company Ltd
was the biggest percentage gainer on the index, up 9.8
percent to its highest in around five months.
New Zealand's benchmark S&P/NZX 50 index regained
ground, to close 0.2 percent or 11.4 points up at 7,372.49, led
Electricity generator and distributor Meridian Energy Ltd
rose 3.1 percent, posting its biggest percentage gain
in around two weeks.
Air New Zealand was the biggest loser on the index,
down 2.15 percent after oil prices edged up on Friday.
(Reporting by Aparajita Saxena in Bengaluru; Editing by Eric