You are here

Australia: Shares hit 3-week high on hopes for Greek resolution


[SYDNEY] Australian shares rose to their highest level in three weeks on Tuesday as investors bet that Greece's latest budget proposals would stave off a debt default and lead to a deal with lenders this week.

In step with sharemarket gains across Asia, the S&P/ASX 200 index rose 1.3 per cent or 74.1 points to 5684.3, its highest since June 2 and its biggest one-day gain since June 11. The benchmark has lost more than 5 per cent since reaching its 2015 peak on March.

New Zealand's benchmark NZX 50 index closed flat, up just 0.1 point to finish the session at 5772.1.