Reuters: Hot Stocks: Australian shares rally as banks lead gains, Telstra hits 5-yr high

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australian shares rally as banks lead gains, Telstra hits 5-yr high Apr 17th 2013, 06:24 Wed Apr 17, 2013 2:24am EDT SYDNEY, April 17 (Reuters) - Australian shares rebounded 1.1 percent on Wednesday, with the mood bolstered by recovering risk appetite and data from the United States that reinforced expectations the Federal Reserve will keep its stimulus plan in place. Financials underpinned the market. Top lender the Commonwealth Bank of Australia rallied 1.7 percent while Westpac Banking Corp climbed 1 percent. Telstra jumped 2.8 percent to hit a near 5-year high of A$4.82. The S&P/ASX 200 index added 53.8 points to finish at 5,004.6 according to the latest data. The benchmark fell 0.3 percent on Tuesday. New Zealand's benchmark NZX 50 index finished the session 1.1 percent, or 50.4 points higher, to 4,478.3 (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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