Reuters: Hot Stocks: Australia shares up 0.6 pct on strong earnings reports

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Australia shares up 0.6 pct on strong earnings reports Feb 18th 2013, 05:19 Tweet Share this Email Print Mon Feb 18, 2013 12:19am EST (Updates to close) SYDNEY, Feb 18 (Reuters) - Australian shares rose 0.6 percent on Monday, as a string of earnings reports supported a view that the local economy was in better-than-expected shape, and investors bought on dips after two big bluechips went ex-dividend, pushing daily volume to a near two-month high. Big miners also gained on hopes that top customer China will start buying after the Lunar New Year holidays, with BHP Billiton adding 0.2 percent and Rio Tinto Ltd climbing 1.1 percent. Both Commonwealth Bank of Australia and telecommunication giant Telstra Corp Ltd went ex-dividend on Monday, which prompted rotation into the other three major banks. The benchmark S&P/ASX 200 index climbed 29.5 points to 5,063.4, according the latest data. The benchmark edged down 3 points to 5,033.9 on Friday, but rose 1.3 percent for the week, continuing the market's bull run for a fifth consecutive week. New Zealand's benchmark NZX 50 index rose 0.4 percent to 4,214.5. (Reporting by Maggie Lu Yueyang; Editing by Eric Meijer) Related Quotes and News Company Price Related News 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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