Business
ASX rallies 1.8pc as investors buy into miners – The Australian Financial Review
The sharemarket rallied on Wednesday as investors shrugged off confirmation of Australia’s first recession in 29 years and bought into the mining sector.
Other blue chips supporting the index included CSL, up 2 per cent to $287.20, Woolworths, which rose 2.6 per cent to $39.22, Wesfarmers up 2.3 per cent to $48.17 and Telstra, which gained 2.5 per cent to $2.90.
AMP jumped 4.9 per cent to $1.62 after the wealth manager said it would start a comprehensive review of its own assets and businesses with a possible break-up of the 171-year-old company via trade sales or divestments.
New AMP chairman Debra Hazelton has appointed Credit Suisse and Gold…
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