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ASX climbs higher for third straight week

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The Australian sharemarket rose for a third straight week on Friday, as strong gains from the mining sector helped local shares offset their year-to-date losses.

The S&P/ASX 200 Index rose 87.6 points, or 1.2 per cent, to 7493.8 this week, despite dipping 5.8 points, or 0.1 per cent, on Friday.

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