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Australian stocks end 0.78pc higher

SYDNEY: Australian stocks rose 0.78 percent on Wednesday ahead of a US Federal Reserve policy meeting where new stimul
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By Shoaib Ur Rehman
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ausSYDNEY: Australian stocks rose 0.78 percent on Wednesday ahead of a US Federal Reserve policy meeting where new stimulus for the economy could be announced.

At the close, the benchmark S&P/ASX 200 was up 31.6 points at 4,071.8.

The US Federal Open Market Committee wraps up a two-day meeting on Wednesday with expectations it might move to further press down long-term interest rates.

Analysts said anything other than positive news will disappoint markets.

The Australian dollar was trading at 102.77 US cents late in the session, up from its 102.07 US cents close on Tuesday.

 

Copyright AFP (Agence France-Presse), 2011

 

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