Business
Australian shares to rise even as Westpac scraps dividend; Nasdaq jumps to record – ABC News
Westpac confirms it will not return any profits to shareholders, while the share market recovers some of yesterday’s losses as gold, oil, the Australian dollar and Wall Street technology stocks all jump.
The local share market has recovered some of yesterday’s losses in early trade.
By 10:20am AEST, the benchmark ASX 200 was up 0.2 per cent to 6,091 points.
The Australian dollar edged higher (+0.6pc) to 72.2 US cents due to a weaker greenback.
Many of today’s best-performing stocks were gold miners like Silver Lake Resources (+5.4pc), Evolution Mining (+4.6pc) and Regis Resource (+4.3pc).
Coles shares lifted (+0.8pc) after the supermarket chain reported its annual profit dropped 32 per cent …
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