Australia: Shares power up, buoyed by rebound in iron ore prices
Add BT as a preferred sourcePublished Tue, May 26, 2015 · 07:02 AM
[SYDNEY] Australian shares jumped to a three-week peak on Tuesday, after a rebound in iron ore prices prompted investors to buy battered resource stocks, while AGL Energy soared on plans to sell assets and cut costs.
The S&P/ASX 200 index rose 0.9 per cent to 5,773.4 at the close of trade. It was the fourth straight day of gains.
New Zealand's benchmark NZX 50 index had a quiet day and finished the session flat at 5,795.8.
REUTERS
Share with us your feedback on BT's products and services
