Business News
Australian stocks share in global rebound
Dec 20, 2011, 23:55 GMT
Sydney - Australian shares gained 2 per cent in early trading Wednesday, sharing in the joy over unexpectedly good economic news from Germany and the United States.
The ASX200 opened the session up 86 points, or 2.09 per cent, at 4,157.
Optimism stemmed from a rise in a key survey of German business sentiment and a jump in US housing starts.
The market took its cue from the 2.9-per-cent rise on Wall Street as well as gains in European markets. The French, German and Italian indices all rose close to 3 per cent.
The buoyant mood saw the Australian dollar climb back above parity with the US currency, buying 1.008 US dollars.
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