Reuters: Hot Stocks: Australian shares up on Wall St rally, banks and miners strong

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 up on Wall St rally, banks and miners strong May 29th 2013, 00:18 Tue May 28, 2013 8:18pm EDT SYDNEY May 29 (Reuters) - Australian shares edged 0.3 percent higher on Wednesday led by flagship financials and miners as investor sentiment was bolstered by a rally on Wall Street. Global iron ore miners BHP Billiton Ltd added 0.9 percent while Rio Tinto Ltd jumped 1.6 percent. Financials were also firm with Australia and New Zealand Banking Group climbing 1.3 percent while National Australia Bank rose 0.5 percent. The benchmark S&P/ASX 200 index added 16.1 points to 4,986.7 by 0011 GMT. The benchmark rose 0.2 percent on Tuesday, snapping a five-day losing streak. The market has been grappling recently with slowing growth in China, suggestions the U.S. may roll back its stimulus this year and turbulence in Japanese equities. U.S. stocks rose on Tuesday, with the Dow closing at yet another record high after central banks reassured investors that they will retain policies designed to foster global growth. New Zealand's benchmark NZX 50 index rose 0.3 percent or 14.3 points to trade at 4,492.5. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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