Reuters: Hot Stocks: Australia shares up 1.3 pct; banks, retailers rally

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Australia shares up 1.3 pct; banks, retailers rally Mar 5th 2013, 05:18 Tweet Share this Email Print Related Topics Basic Materials » Energy » Tue Mar 5, 2013 12:18am EST (Updates to close) SYDNEY, March 5 (Reuters) - Australian stocks ended 1.3 percent higher on Tuesday, with financials and consumer staple shares like supermarkets leading gains after healthy retail figures and export data supported an upbeat outlook for the economy. Australia's central bank kept its main cash rate at a record low of 3.0 percent on Tuesday, but reiterated there was room to cut if needed, which was broadly in line with market expectations. The S&P/ASX 200 index trimmed gains after the rate decision, but still ended the day 64.9 points higher at 5,075.4, according to the latest data. It fell 1.5 percent on Monday to its lowest close since Feb. 26. New Zealand's benchmark NZX 50 index rose 0.4 percent to 4,269.2. (Reporting by Maggie Lu Yueyang; Editing by Edwina Gibbs) 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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