Markets
Australia shares up 1pc in early trade
MELBOURNE : Australian stocks rose 1 percent on Tuesday after a firmer finish on Wall Street encouraged investors to che
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MELBOURNE: Australian stocks rose 1 percent on Tuesday after a firmer finish on Wall Street encouraged investors to cherry pick some beaten-down stocks.
Foster's Group rose 0.4 percent to A$4.92 after reporting an 8.7 percent fall in underlying profit and flagged a A$500 million capital return as it battles a $10 billion hostile offer from global brewer SABMiller .
Origin Energy climbed 2.3 percent after reporting underlying profit in line with analysts' forecasts.
The underlying S&P/ASX 200 index rose 45.54 points to 4,127.8. The benchmark slipped 0.5 percent on Monday.
New Zealand's benchmark NZX 50 index inched up 0.1 percent to 3,277.78 points in early trade.
Copyright Reuters, 2011
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