Australia
Monday, 15 August 2011 09:38
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MELBOURNE: Australian stocks jumped 1.8 percent on Monday, helped by short-covering and solid domestic corporate earnings as investors recovered after a rocky week shaken by worries of a fresh global recession.
"We are on the doorstep of the reporting season. It is tough, but they are meeting their numbers and that is serving to underpin the valuation on the market," said Richard Morrow, director at E.L. & C. Baillieu Stock broking.
Shares in Leighton Holdings, Australia's top contractor, jumped 4.2 percent after the company stuck to its profit guidance for the 2012 financial year.
Market sentiment was soothed after Wall Street and European markets recovered as panic over debt crises and a potential global recession subsided, at least for now.
Australian Foundation Investment Company chairman Bruce Teele said he expected markets will remain volatile as economic and financial problems in Europe and the United States continue.
But he said ...
SYDNEY: Australian stocks gained 0.77 percent on Friday, capping a week of unprecedented volatility over concerns about eurozone debt and the US economy.
At the close, the benchmark S&P/ASX 200 was 31.8 points higher at 4,172.6, adding 67.2 points, or 1.6 percent, over a week of wild swings.
AMP Capital Investors chief economist Shane Oliver said policy makers around the world were finally starting to kick into action and suggested shares had a good outlook.
"Shares are great ...
SYDNEY: Australian stocks jumped 1.3 percent in early trade on Friday after strong rallies in Europe and the United States overnight, but against a background of extreme volatility.
At 10:15 am (0015 GMT), the benchmark S&P/ASX 200 was 52.2 points higher at 4,193.0 on the back of the Dow Jones Industrial Average posting a 3.94 percent gain.
The early gains were not as strong as the Dow after the Australian market largely outperformed other Asian bourses on ...
SYDNEY: Australian stocks climbed 2.6 percent Wednesday, building on their gains from the previous day after sharp rebounds in the United States and Europe overnight.
At the close, the benchmark S&P/ASX 200 was up 106.5 points at 4,141.3 after the US Federal Reserve said it expected to maintain interest rates at ultra-low levels for the next two years.
It followed a stunning turnaround on Tuesday when the Australian bourse recovered from a more than 5.5 percent slump ...
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