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By Rajasik Mukherjee

Oct 14 (Reuters) -Australian shares hit a two-week high on Monday, driven by gains in miners and banks, while a positive start to the U.S. quarterly earnings boosted investor sentiment.

The S&P/ASX 200 index .AXJO rose 0.5% to close at 8,252.8 points. The benchmark hit 8,271.8 points earlier in the session, its highest since Sept. 30.

Miners .AXMM gained 1.3% due to rising iron ore prices, with BHP Group BHP.AX and Rio Tinto RIO.AX advancing 0.9% and 1.9%, respectively. IRONORE/

"Mining stocks seemed unfazed by the lack of details in the China stimulus plans, with investors focused more on the intent of China's finance ministry to up the ante in coming months with fiscal stimulus," said Tim Waterer, chief market analyst, KCM Trade.

Interest-rate sensitive financials .AXFJ ended 0.8% higher, with the "Big Four" banks rising between 0.2% and 0.9%. The sub-index earlier hit its highest level since Sept. 26.

Strong earnings reports from some big U.S. banks last week boosted investor confidence amid growing hopes that the Federal Reserve will start cutting rates again in November.

"US equities ended last week on a strong note, which gave the ASX a positive offshore lead .... U.S. Q3 earnings got off to a solid start which helped broader equity market performance," said Waterer.

Among corporate news, TPG Telecom TPG.AX fell 3.9% on plans to sell its fibre and fixed network infrastructure assets to Macquarie MQG.AX and pension fund Aware Super-owned telecoms group Vocus for A$5.25 billion ($3.54 billion).

Analysts at Morningstar said the sale price sounded "like a price discount" considering that the amount would bear further reductions in contingent payment and transaction/separation costs, among others.

Energy stocks .AXEJ lost 1.3% after two straight sessions of gains, tracking global oil prices lower. O/R

Woodside Energy WDS.AX dropped 1.1%, while its smaller peer Santos STO.AX shed 0.8%.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.6% to 12,766.75.

($1 = 1.4837 Australian dollars)

Reporting by Rajasik Mukherjee in Bengaluru; Editing by Savio D'Souza

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