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Australia, NZ: Shares rise as Brexit fears subside
Australian and New Zealand shares rose on Monday as the latest poll showed Britons leaning in favour of staying in the European Union, which spurred a move out of safe-haven gold and back into banking and mining stocks.
PHOTO: REUTERS
[SYDNEY] Australian and New Zealand shares rose on Monday as the latest poll showed Britons leaning in favour of staying in the European Union, which spurred a move out of safe-haven gold and back into banking and mining stocks.
The S&P/ASX 200 index rose 94.13 points, or 1.82 per cent, to 5256.80 at the close of trade. The gains helped to claw back much of last week's 3 per cent drop, which was largely sparked by Brexit fears.
New Zealand's benchmark S&P/NZX 50 index gained 22.47 points, or 0.33 per cent, to finish the session at 6869.54.
REUTERS
