14 Jul 2009

Australian market surges

10:41 pm on 14 July 2009

The Australian share market closed more than 3% higher on Tuesday in its biggest one-day percentage gain so far this calendar year.

The bourse was led by stronger banking and mining sectors, following a strong lead from United States and other overseas markets.

The benchmark S&P/ASX200 index rose 129.6 points, or 3.47%, to 3,867.1, while the broader All Ordinaries index lifted 120.8 points, or 3.23%, to 3,858.8 points.

It was the strongest one day percentage gain for the S&P/ASX200 since 8 December last year.

On the Sydney Futures Exchange, the September share price index futures contract was up 144 points at 3,847 on 30,946 contracts.

NZX up

The NZX 50 index rose 11.6 points, or 0.42%, to close at 2748 on turnover of $54 million on Tuesday.

Telecom was unchanged at $2.66, Fletcher Building was up 4 cents to $6.60 and Contact Energy up 2 cents at $5.75

Air New Zealand was down 2 cents to 86 cents, while Sky City Entertainment Group was up 3 cents to $2.65.

Fisher and Paykel Healthcare was unchanged at $2.82.

Infratil rose by 3 cents to $1.69 after placing 7.8 million shares to institutions at $1.64.

In currency markets at 5pm, the NZ dollar was at 63.39 US cents, 80.72 Australian, 39.00 pence, 59.07 yen, and 0.4532 euro. The Trade Weighted Index stood at 5990.

Tokyo, US up

Japanese share prices gained 2.34% on Tuesday, breaking a nine-day losing streak in the wake of rallying US stocks.

The benchmark Nikkei-225 index rose 211.48 points to close at 9,261.81. The broader Topix index of all first section shares climbed 16.15 points, or 1.89%, to 868.57.