Reuters: Hot Stocks: Australia shares climb to 4-1/2 yr high after smooth Italy debt sale

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Australia shares climb to 4-1/2 yr high after smooth Italy debt sale Feb 28th 2013, 05:35 Tweet Share this Email Print Thu Feb 28, 2013 12:35am EST (Updates to close) SYDNEY, Feb 28 (Reuters) - Australian shares rallied 1.3 percent on Thursday, the biggest one-day percentage gain in seven month and touching a fresh 4-1/2 year high at one point, after a smooth Italian debt sale and comments from U.S. Federal Reserve Chairman Ben Bernanke reassured investors. On the domestic front, data out on Thursday showed that a closely watched estimate for spending in the 12 months to June 2014 came in at A$152.5 billion, a slowdown from the A$168.2 billion expected for 2012/13 but still a major support for the A$1.5 trillion economy. The benchmark S&P/ASX 200 index jumped by 67.5 points to close at 5,104.1, according to the latest data, and ended the month 4.6 percent higher. The benchmark gained 0.7 percent on Wednesday. The Australian market has rallied 9.8 percent so far this year, supported by receding U.S. and euro zone debt concerns as well as a relatively strong earnings season. New Zealand's benchmark NZX 50 index closed up 1.0 percent or 43.7 points to 4,320.0. (Reporting by Maggie Lu Yueyang; Editing by Edwina Gibbs) 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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