Australia
Friday, 13 January 2012 11:34
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SYDNEY: Australian shares rose 0.4 percent in morning trade on Friday, helped by easing worries over Europe's debt crisis after bond auctions fared better than the market expected, with the materials sector leading gains on firm base metal prices.
"It's a mixture of news, on the one hand the good news is that people are looking at more positive developments out of Europe," said Damien Boey, equity strategist Credit Suisse.
"Particularly with the ECB declaring that they are making inroads into the crisis, the Italians managed to get away a bond auction with relatively low interest rates," he added.
However, the positive news out of Europe was dampened by lackluster economic data out of the US overnight, which has capped gains in the Australian and Asian markets on Friday.
"The bad news is that a lot of people had pinned 2012 recovery on the US consumer recovery and last night we had some ...
MELBOURNE: Australian shares finished 1.1 percent higher on Tuesday as investors focussed on the increasing evidence of a US recovery with no fresh bad news from Europe.
The local market played catch-up with US gains after slipping on Monday, helped by a positive outlook for metal demand from top US aluminium producer Alcoa Inc that defied gloom among its peers.
"It has the feel of a bit of strength to it," said Prasad Patkar, a portfolio manager ...
MELBOURNE: Australian shares rose 0.9 percent on Tuesday, outpacing a modest rise on Wall Street, with investors starting to latch on to increasing evidence of a US economic recovery.
The local market was playing catch-up after slipping on Monday, helped by a positive outlook for metal demand from top US aluminium producer Alcoa Inc that defied gloom among its peers.
The benchmark S&P/ASX 200 index jumped 37.5 points to 4,142.9 at 0255 GMT, recouping losses from the ...
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