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Aussie shares inch up for the day, but have worst week in 8; NZ down

Aussie shares inch up for the day, but have worst week in 8; NZ down

(Updates to close) Jan 12 (Reuters) - Australian shares rose marginally on Friday, as gains for miners outweighed losses for bank stocks, but the main index still had its worst week in eight. The S&P/ASX 200 index closed up 0.04 percent, or 2.5 points, to 6070.10, though it lost 0.9 percent this week. On Thursday, the benchmark shed 0.5 percent. On Friday, material stocks were lifted by iron ore supply concerns stemming from a cyclone brewing in northwest Australia. Spot iron ore .IO62-CNO=MB touched its strongest level in nearly five months overnight, boosted by the possibility of a tropical cyclone off the nation’s west coast choking supply. Australia’s metals and mining index finished 2 pct