Reuters: Hot Stocks: Australian shares end up, financials lead; China PMI caps rise

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Australian shares end up, financials lead; China PMI caps rise Apr 23rd 2013, 06:29 Tue Apr 23, 2013 2:29am EDT (Updates to close) SYDNEY, April 23 (Reuters) - Australian shares rose 1 percent on Tuesday led by financials and energy shares as Wall Street rallied overnight, but gains were capped after a dip in Chinese manufacturing activity in April reinforced recent worries about the global economic recovery. Growth in China's vast factory sector slowed in April as new export orders shrank, a preliminary survey of factory managers showed on Tuesday, suggesting the economy still faces formidable global headwinds into the second quarter. Financials underpinned the index, with Australia and New Zealand Banking Corp climbing 2.2 percent while National Australia Bank added 1.4 percent. Energy stocks were higher, driven by Woodside Petroleum Ltd which soared 9.7 percent after its board declared a special dividend of A$0.63 per share. The S&P/ASX 200 index rose 49.6 points to finish at 5,016.2, according to the latest data. It pulled back from a high of around 5,036.5 on losses in mining stocks after China's PMI data was released. The benchmark rose 0.7 percent on Monday. New Zealand's benchmark NZX 50 index finished the session up 0.7 percent or 32.8 points higher, at 4,516.5. (Reporting by Thuy Ong, additional reporting by Michael Sin; Editing by Shri Navaratnam) Link this Share this Digg this Email Reprints

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