Reuters: Hot Stocks: Australia shares recover on central bank optimism; down 0.3 pct on week

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Australia shares recover on central bank optimism; down 0.3 pct on week Feb 22nd 2013, 05:19 Tweet Share this Email Print Fri Feb 22, 2013 12:19am EST (Updates to close) SYDNEY, Feb 22 (Reuters) - Australian shares recovered 0.8 percent on Friday following a steep fall in the previous session, with the rally led by the financials sector as upbeat comments from the central bank governor offset concerns about the U.S. and euro zone economies. In a parliament hearing on Friday, Reserve Bank of Australia Governor Glenn Stevens said the bank could ease interest rates further if needed given a benign inflation outlook, while expressing optimism about the Australian economy. The benchmark S&P/ASX 200 index climbed 38.0 points to 5,018.1, according to the latest data, but ended the week 0.3 percent lower. It plunged 2.3 percent on Thursday, which was its biggest one-day percentage fall since May on worries the U.S. Federal Reserve could stop or cut its monetary stimulus programme. New Zealand's benchmark NZX 50 index rose 1.1 percent to 4,214.6. (Reporting by Maggie Lu Yueyang; Editing by Simon Cameron-Moore) 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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