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Australia: Shares ride global peers to 10-week high

Monday, March 14, 2016 - 14:25

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[SYDNEY] Australian shares rose to a two-month peak on Monday, while New Zealand stocks hit a fresh record, mirroring gains in Europe and Wall Street following the European Central Bank's latest stimulus package.

Firmer oil prices also helped the Dow and S&P 500 enjoy their best close of 2016 on Friday, adding to the momentum in Australasia.

The S&P/ASX 200 index was up 19.1 points, or 0.4 per cent, at 5,185.5 at the close of trade. The benchmark has been rebounding from a soft start to 2016, gaining in nine of the last 11 sessions, although it is still down 2 per cent for the year so far.

New Zealand's benchmark S&P/NZX 50 index rose 51.4 points, or 0.8 per cent, to finish the session at 6,566.8, posting new record highs in each of the past eight days.

REUTERS

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