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Australia, NZ: Shares bounce on miners and takeover rally

[SYDNEY] Australian shares jumped 1.64 per cent on Monday as a Wall Street bounce brought relief to hard-hit resource companies and helped stocks recoup some of last week's heavy losses. New Zealand stocks, meanwhile, soared on takeover news.

The S&P/ASX 200 index rose to 4843.50 at the close of trade. The benchmark rose by 78.15 points on Monday.

New Zealand's benchmark S&P/NZX 50 index rose 1.7 per cent or 100.32 points to finish the session at 6034.28.

REUTERS

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