Reuters: Hot Stocks: Australian shares rise after Wall St hits new all-time highs

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 rise after Wall St hits new all-time highs May 22nd 2013, 00:20 Tue May 21, 2013 8:20pm EDT SYDNEY May 20 (Reuters) - Australian shares rose 0.4 percent on Wednesday, led by blue-chip miners after comments from U.S. Federal Reserve officials eased some concerns that the central bank might scale back its stimulus programme, helping Wall Street close at all-time highs. Bellwether miners BHP Billiton Ltd and Rio Tinto Ltd climbed 1.7 percent and 2.3 percent, respectively. Top steel producer and consumer China boosted its steel output in April, more than offsetting production cuts in most other countries, where steelmakers are trying to battle oversupply and price weakness. The benchmark S&P/ASX 200 index added 19.5 points to 5,199.6 by 0011 GMT. The index fell 0.6 percent on Tuesday. New Zealand's benchmark NZX 50 index rose 0.4 percent or 19.3 points to 4,610.1. (Reporting by Thuy Ong; Editing by Chris Gallagher)

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