Reuters: Hot Stocks: Australia shares at 19-mo high as U.S. averts fiscal cliff

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Australia shares at 19-mo high as U.S. averts fiscal cliff Jan 2nd 2013, 05:25 Tweet Share this Email Print Wed Jan 2, 2013 12:25am EST MELBOURNE, Jan 2 (Reuters) - Australian shares rose 1.2 percent to a 19-month high in the first trading session of 2013, the biggest one-day percentage gain in five months as U.S. lawmakers agreed to a budget deal that should keep the world's largest economy out of recession. By a vote of 257 to 167, the Republican-controlled House of Representatives approved a bill to raise taxes on top earners. The benchmark S&P/ASX 200 index, which ended 2012 up 14.6 percent in its best annual gain since 2009, rose 57 points to 4,705.9, according to the latest data. That was the highest since June 1, 2011. The New Zealand market remained closed for a holiday on Wednesday. BHP Billiton rallied 2 percent while Rio Tinto gained 2.4 percent after iron ore prices posted the biggest monthly increase on record in December. (Reporting by Miranda Maxwell; Editing by Richard Borsuk) 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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