Reuters: Hot Stocks: Australia shares up 0.4 pct, banks higher

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares up 0.4 pct, banks higher Dec 5th 2012, 05:27 MELBOURNE | Wed Dec 5, 2012 12:27am EST MELBOURNE Dec 5 (Reuters) - Australian shares rose 0.4 percent on Wednesday, winning back a good chunk of losses in the previous session, as data showed the economy slowed in the third quarter but was still growing at a faster pace than any other developed nation. The Australian Bureau of Statistics reported gross domestic product (GDP) rose 0.5 percent in the third quarter, in line with forecasts albeit the smallest rice since early 2011. . The benchmark S&P/ASX 200 index rose 16.8 points to at 4,520.4, according to the latest data, after falling 0.6 percent on Tuesday. Top banks gained after policymakers lowered rates this week, with Commonwealth Bank advancing 1 percent. New Zealand's benchmark NZX 50 index slipped 0.2 percent to 4,007.25 points. (Reporting by Miranda Maxwell; Editing by Kim Coghill)

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