You are here

Australia: Shares rally after Christmas break


[SYDNEY] Australian shares rose for an eighth straight day on Tuesday, climbing 1.15 per cent led by banks and supermarkets while resource stocks continued to weigh on the index.

The S&P/ASX 200 index added 59.65 points to close at the day's high of 5,267.30, a level not seen since Dec 2. The benchmark rose 1.3 per cent in a shortened Christmas Eve session on Thursday before a four-day weekend.

The index is also set for its best quarterly performance since the January-March period.

Trading is likely to remain fairly tepid, however, given a dearth of local drivers and a holiday-shortened week.

New Zealand's benchmark S&P/NZX 50 index edged up 1.08 per cent or 66.91 points to finish the session at a record 6,292.44.