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Australia: Shares bounce as investors swoop on bargains after months of falls

Thursday, May 21, 2015 - 16:07
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[SYDNEY] Australian shares rose the most in a month on Thursday, defying falls in overseas commodities and equities markets, as investors took advantage of buying opportunities following months of heavy selling.

Global building materials maker James Hardie Industries also helped boost the broader market, gaining 10 per cent after it reported annual net profit nearly tripled.

The S&P/ASX 200 index rose 52.0 points or 0.9 per cent to 5662.3 at the close of trade, its biggest one-day advance since April 24.

New Zealand's benchmark NZX 50 index firmed 13.5 points or 0.2 per cent to finish the session at 5769.3.

REUTERS