Reuters: Hot Stocks: Australia shares up 0.7 pct at 3-week high

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 0.7 pct at 3-week high Nov 29th 2012, 05:17 MELBOURNE | Thu Nov 29, 2012 12:17am EST MELBOURNE Nov 29 (Reuters) - Australian shares rose 0.7 percent to a three-week high on Thursday, supported by banks and gains in global miner Rio Tinto after it gave an upbeat outlook on China and cost-cutting pledges. Rio rose 0.9 percent after it said it was cautiously optimistic about a pick-up in growth in China, its biggest customer. Rio said it was aiming to cut more than $5 billion of operating and support costs by the end of 2014. The benchmark S&P/ASX 200 index rose 30 points to 4,477.7, according to the latest data, the highest close since Nov 8. The index slipped 0.2 percent on Wednesday, but is up from a mid-November low of 4,334.3. New Zealand's benchmark NZX 50 index rose 0.1 percent to 4,016.8 points. (Reporting by Miranda Maxwell; Editing by Kim Coghill)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions