Reuters: Hot Stocks: Australian shares edge higher on banks, investors wary

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 edge higher on banks, investors wary Jun 27th 2013, 00:14 Wed Jun 26, 2013 8:14pm EDT SYDNEY, June 27 (Reuters) - Australian shares edged 0.7 percent higher in early trade on Thursday after Wall St rallied overnight, but underlying concerns over slower growth in China and political uncertainty after the surprise change of prime minister kept investors wary. Financials rallied. Top lender the Commonwealth Bank of Australia jumped 1.1 percent while Westpac Banking Corp gained 1.3 percent. The S&P/ASX 200 index rose 33.4 points to 4,765.1 by 0011 GMT. The benchmark snapped a four-day losing streak and jumped 1.6 percent on Wednesday. Miners were trading weaker as copper slipped on conerns over outlook demand from China, Australia's largest export market. BHP Billiton Ltd and Rio Tinto Ltd tumbled 1.5 percent and 0.9 percent respectively. U.S. stocks rallied for a second day on Wednesday, recouping some recent losses on reduced concern that the Federal Reserve will begin to withdraw its stimulus in the near future. New Zealand's benchmark NZX 50 index rose 0.4 percent or 18.9 points to 4,412.5. (Reporting by Thuy Ong; Editing by Michael Perry)

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