Australia shares up 0.6 percent; banks, miners firm - News

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Australia shares up 0.6 percent; banks, miners firm

By: AFX | 10 Nov 2009 | 07:37 PM ET

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WELLINGTON, Nov 11 (Reuters) - Australian stocks rose 0.6 percent on Wednesday, led by miners and lenders, defying a mixed performance on Wall Street. Investors maintained the buying momentum generated early in the week, said Jamie Spiteri, senior dealer at Shaw Stockbroking. "Our market is better on some of the areas that have been strong in the past couple of days, that momentum is still flowing over," Spiteri said. Sentiment for financial stocks remained strong after local insurer AMP's bid for the Australian assets of AXA SA , Europe's second-largest insurer, Spiteri said. AMP shares rose 1.7 percent to A$6.50 while Axa shares gained 1.4 percent to A$5.85. The benchmark S&P/ASX 200 index added 29.8 points to 4,763.4 at 0008 GMT, after rising 1.3 percent on Tuesday and 1.8 percent on Monday. New Zealand's benchmark NZX 50 index dipped 0.1 percent to 3,163.9. Global miners Rio Tinto and BHP Billiton also rose, up 1.4 percent and 0.8 percent respectively. STOCKS ON THE MOVE * Shares in New Zealand's largest listed company, Fletcher Building, fell 1.2 percent to NZ$7.94 after said markets were still tough and that any recovery would be gradual. 2330 GMT (Reporting by Adrian Bathgate; Editing by Mark Bendeich) ((adrian.bathgate@reuters.com; +64-4-4714233; Reuters Messaging: adrian.bathgate.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Australia diary Wall Street Week Ahead Eurostocks Week Ahead ................................................................ For latest top breaking news across all markets ................................................................ TOP NEWS SUMMARIES ON OTHER SUBJECTS | U.S. Companies | European Companies | | Forex | Global Economy | | Tech.Media,Telecoms | Banking, Financials | | Politics & General | Sports | ................................................................ MAJOR STOCK MARKET REPORTS New York Weekly outlook New York Pan-Europe Weekly outlook Europe London Weekly outlook London Tokyo ................................................................ ASIA STOCK MARKETS Pan-Asia...................... Bangkok...... Karachi........ S/east Asia. Bombay....... Kuala Lumpur... Sydney/NZ... China........ Seoul.......... Taipei...... Hong Kong.... Singapore...... Tokyo........ ................................................................

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