The Australian share market has closed out the week with modest gains. -AAP Image
Australian shares have clocked a second week of modest progress, as global bond yields, stubborn oil prices and local economic woes cap investor confidence.
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The S&P/ASX200 rose 55.7 points on Friday, up 0.64 per cent, to 8716.6, as the broader All Ordinaries advanced 54.5 points, or 0.62 per cent, to 8877.7.
Almost all 11 sectors posted gains in the final session, with strong rebounds in consumer retail, real estate and IT stocks, while Telstra dragged the communications sector into the red.
Weakness in miners softened over the day, after a better-than-expected US bond auction drove Treasury yields and the greenback lower, handing precious metals and copper prices a boost.
The Australian dollar is buying 69.78 US cents, up from 69.46 US cents on Thursday at 5pm.
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