November 14, 2012 / 5:27 AM / 5 years ago

Australia shares rise 0.2 pct as banks gain

MELBOURNE, Nov 14 (Reuters) - Australian shares rose 0.2 percent on Wednesday, coming off seven-week lows as top banks gained in cautious trade.

The benchmark S&P/ASX 200 index rose 8.6 points to 4,388.4, according to the latest data. At one point it hit a low of 4,372, its lowest since Sept. 28. It dropped 1.5 percent on Tuesday.

New Zealand’s benchmark NZX 50 index fell 0.4 percent to 3,955.6. New Zealand retail sales volumes fell a seasonally adjusted 0.4 percent in the September quarter, against expectations for a rise of 0.5 percent. (Reporting by Miranda Maxwell; Editing by Edwina Gibbs)

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