Australian shares advanced on hopes for interest rate cut

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Source: Dukascopy Bank SA
© Scanpix/AFP
Australian stocks moved higher at low-volume trading on Wednesday. The market sentiment was boosted by mounting hopes that the RBA will cut its benchmark interest rate again at its policy meeting due on Thursday. Positive economic data also lifted Australian equities. Australian building approvals rose by 7.8% while public sector net borrowings continued to advance in September.  The S&P/ASX 200 Index jumped 0.70% to close at 4,517.00. Nine sectors climbed. Technology and health care were the top-gainers. Computershare and SMS Management & Technology surged 1.88% and 0.40% while Ansell and Primary Health Care rose 2.16% and 4.29%. Meanwhile, Telstra Corp added 0.73% after its CEO David Thodey said that Foxtel, the company's half-owned subsidiary, can sell its telephone and broadband services if it helps to increase number of subscribers. On the downside, National Australia Bank shed 0.35% after reporting a 22% fall in full-year income.

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Wed, 31 Oct 2012 16:26:00 GMT

Canada GDP grows less than expected in August

Canada's economic activity advanced at a weaker-than-expected pace in August, Statistics Canada showed on Wednesday. Canada's GDP posted a 1.2% growth, compared to a 1.9% increase in July. Economists had forecast a 1.7% rise. On monthly basis, GDP declined 0.1%, quite below expectations of a 0.2% expansion.

Fri, 02 Nov 2012 09:39:49 GMT

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Destatis reported on Wednesday that Germany's retail sales grew more than expected in September. Retail sales advanced by 1.5% on a seasonally adjusted basis last month, compared to a revised down figure of 0.1% in the preceding month. Economists, however, expected a more moderate increase of 0.3%.

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