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Markets

Australian stocks open up 1.13pc

Published Updated

ausSYDNEY: Australian shares gained 1.13 percent at the open on Wednesday, boosted by news that embattled Italian Prime Minister Silvio Berlusconi plans to resign after austerity measures are approved.

At 10:15 am (2315 GMT) the benchmark S&P/ASX200 index was 48.4 points stronger at 4,342.2, tracking the Dow Jones Industrial Average higher.

The Australian dollar was trading at 103.75 US cents early in the session, up from 103.07 US cents late Tuesday.

Copyright AFP (Agence France-Presse), 2010

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