SYDNEY: Australian share prices opened 1.2 percent higher Friday, after European leaders announced plans to tackle the continent's festering debt crisis.
At 10:27 am (2327 GMT Thursday), the benchmark S&P/ASX 200 was up 54.1 points at 4,348.2 after European Union leaders struck a breakthrough deal Thursday to boost their bailout fund and other measures to fix the region's debt problems.
"With strong leads all round, it seems there is little in the way of the bulls now," said Stan Shamu of IG Securities after US and European stocks jumped following the meeting of European leaders.
The Australian dollar also surged to an eight-week high on the news, trading at 107.17 US cents, up from 105.34 US cents on Thursday.
Comments
Comments are closed for this article.