Aussie shares pare early gains to fade from record

The top 200 came within roughly 10 points of resetting its intraday best of 9,115.2, but ultimately handed back most of its 88-point lead by the close.

The big four banks led the charge after ANZ shares rocketed 8.5 per cent higher to a record $40.35, joining CBA in smashing its earnings forecast with a $1.9 billion cash profit in the December quarter.

The Australian dollar is still trading near three-year highs, buying 71.15 US cents, roughly on par with Thursday afternoon's 71.16 US cents.