MW: Australian stocks rise, with banks, miners strong
By Michael Kitchen
LOS ANGELES (MarketWatch) -- Australia's stock market returned from a four-day holiday to make broad gains in early Tuesday trading, with financials stronger and resource shares advancing on a rise in commodities prices. The benchmark S&P/ASX 200 was up 0.9% at 4,834.30 in the early minutes of trade. Banks extended their rally from last week, helped by an improved economic outlook, with Australia & New Zealand Banking Group (AU:ANZ 22.70, +0.31, +1.38%) (ANEWF 18.90, -0.90, -4.55%) rose 1.6%, while Macquarie Group Ltd. (AU:MQG 48.17, +0.17, +0.35%) (MCQEF 41.40, -41.40, -50.00%) was up 1%. In the resource space, Origin Energy Ltd. (AU:ORG 16.70, +0.27, +1.64%) (OGFGF 14.45, -0.10, -0.69%) added 1.7%, tracking crude-oil futures higher, while gold producer Newcrest Mining Ltd. (AU:NCM 35.28, +0.14, +0.40%) (NCMGF 31.45, +1.65, +5.54%) rose by 1.2%.
