Reuters: Hot Stocks: Australia shares end up 0.7 pct on gains for banks, miners

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Australia shares end up 0.7 pct on gains for banks, miners Apr 22nd 2013, 06:17 Tweet Share this Email Print Mon Apr 22, 2013 2:17am EDT (Updates to close) SYDNEY, April 22 (Reuters) - Australian shares closed 0.7 percent higher on Monday as major miners and banks advanced on short-covering and as gold prices rebounded, but buyers remained tentative ahead of key economic data due later this week. Global miner BHP Billiton pared earlier losses and ended 1.0 percent higher, while rival Rio Tinto Ltd jumped 1.5 percent. Australia's biggest lender Commonwealth Bank of Australia rose 0.8 percent. The S&P/ASX 200 index added 34.7 points to 4,966.6, according to the latest data, taking its cue from a strong finish on Wall Street on Friday and a rebound in gold prices. The benchmark rose 0.2 percent on Friday, but suffered its biggest weekly loss in almost one month as the plunge in commodities and concerns about global growth heightened worries about demand for the resource-rich nation's raw materials. New Zealand's benchmark NZX 50 index rose 0.9 percent to 4,483.7. (Reporting By Maggie Lu Yueyang; Editing by Shri Navaratnam) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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