Monday, 05 November 2012 10:51
SYDNEY: Australian shares rebounded from early losses on Monday after stronger-than-expected domestic retail sales figures helped boost sentiment, offsetting softer metals prices and a weak lead from offshore.
Australian retail sales rose a shade more than expected in September, although spending dipped for whole third quarter and opinions remain divided on whether interest rates will be cut again this week.
The S&P/ASX 200 index rose 0.3 percent or 14 points to 4,474.1 according to latest data. The benchmark edged up 0.1 percent on Friday.
New Zealand's benchmark NZX 50 index slipped 0.1 percent or 5.8 points to 3,908.3.
Copyright Reuters, 2012