Reuters: Hot Stocks: Australia shares post biggest one-day gain in 18 months

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

Australia shares post biggest one-day gain in 18 months Jun 14th 2013, 06:31 Fri Jun 14, 2013 2:31am EDT SYDNEY, June 14 (Reuters) - Australian shares rebounded 2.1 percent on Friday, their biggest one-day gain in 18 months, as high-yielding stocks led by blue chip financials underpinned the local market after Wall Street rallied overnight. Financials were led by National Australia Bank soaring 3.6 percent while Australia's fourth largest bank, Australia and New Zealand Banking Group climbed 3 percent. The S&P/ASX 200 index to climbed 96 points to 4,791.8, according to the latest data. The benchmark index is up 1.1 percent for the week, ending four consecutive weeks of losses. Flagship telecommunications provider Telstra Ltd gained 1.3 percent. The company currently yields at 6.1 percent. U.S. stocks rallied on Thursday after three days of losses as stronger-than-expected economic data helped offset concerns about the expected winding down of the Federal Reserve's economic stimulus. New Zealand's benchmark NZX 50 index rose 0.4 percent or 19 points to finish the session at 4,421. (Reporting by Thuy Ong; Editing by Eric Meijer)

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