Aussie stocks up 1.2 pct; banks lead

SYDNEY, Aug 29 (Reuters) - Australian shares rose 1.2 percent on Friday, led by banks as concerns about the global economy eased following strong U.S. economic growth figures. Big miners such as BHP Billiton (ASX: BHP.ax) also gained as the better-than-expected U.S. second quarter gross domestic product (GDP) data eased concerns about waning demand for raw materials. The benchmark S&P/ASX 200 .AXJO rose 59.0... [read full story]