View the article online at http://citywire.co.uk/money/article/a657924
Australian shares surge to 33-month high
Most of the Asian stock markets are closed today for the Lunar New Year holiday.
Australian equities traded at the highest level in nearly three years on Monday with several Asian equity markets closed for public holidays.
The S&P/ASX 200 Index rose 0.1% as of 12:41 p.m. in Sydney to the highest level since April 2010, with a positive earnings report from retailer HB Hi-Fi Ltd. helping to boost retail stocks. Stock markets in Hong Kong, mainland China and Seoul were among those closed today for the Lunar New Year holiday. Japanese markets were also shut for a public holiday.
Key stock indexes in the Philippines and Indonesia also climbed while markets in Singapore, Taiwan and Vietnam were closed for holidays.
European finance leaders are meeting in Brussels on Monday to discuss aid to Cyprus and Greece as a tightening election contest in Italy and a political scandal in Spain shake up markets.
JB Hi-Fi surged 15.4% after reporting its first half net profit had risen 3% to $84.6 million. David Jones rose 3.6% and Myer Holdings added 3.1%.
Meanwhile, the euro fell 0.1% to 123.81 yen and held a three day decline against the US dollar. Japan’s currency gained against most of its major counterparts, extending a rally from last week when Finance Minister Taro Aso said the rate of the yen’s fall was too fast.
News sponsored by:
The Citywire guide to investment trusts
In association with Aberdeen Asset Management
What can SLI bring to the table for those who want to put their money into investment trusts?
More about this:
Tools from Citywire Money
From the Forums
Weekly email from The Lolly
Get simple, easy ways to make more from your money. Just enter your email address below
An error occured while subscribing your email. Please try again later.
Thank you for registering for your weekly newsletter from The Lolly.
Keep an eye out for us in your inbox, and please add firstname.lastname@example.org to your safe senders list so we don't get junked.
by Michelle McGagh on Aug 01, 2014 at 05:01