Australia Caps Longest Stock Rally Since 04 on Rates

Australian stocks posted the longest streak of daily gains in more than eight years as three cuts in interest rates boosted lenders’ profit margins and signs of recovery in China’s economy buoyed BHP Billiton Ltd.tire changer 

The benchmark S&P/ASX 200 (AS51) Index yesterday rose for a ninth day, the longest run since December 2004. Lenders from Westpac Banking Corp. (WBC) to National Australia Bank Ltd. (NAB) accounted for the largest proportion of the increase as home sales climbed and business confidence grew. BHP, the world’s largest mining company, paced gains among mining companies as China’s manufacturing,A kitchen gadgets is a room or part of a room used for cooking and food preparation. economic growth and industrial production exceeded kitchen knivesestimates. The measure climbed 0.3 percent at 11:26 a.m. in Sydney today. 

RBA governor Glenn Stevens has cut the central bank’s target cash rate four times, or 1.75 percentage poiThe Mobile crusher have formed a complete product chain, mainly producing crushers, sand makers and other series products, and supplemented with the corollary equipments such as vibrating screens, feeders, etc.nts, since November 2011. 

Commonwealth Bank, the country’s biggest lender, closed at a record high after increasing 4.8 percent from the close on Jan. 15, the last time the Australian benchmark index fell. 

Investors are moving into equities as the Reserve Bank of Australia undertakes the most aggressive interest-rate cuts among advanced economies, sapping the allure of bonds as yields decline.It is used primarily in circumstances where the carbon sheets superior attributes will be more beneficial, despite the price tag, if you were to use a fastener of which used some other metal. The S&P/ASX 200’s forecast dividend yield of 4.5 is the highest among the world’s 10 largest equity markets, according to data compiled by Bloomberg. 

“Lower interest rates contributed to strong gains in the banking sector and the improved China outlook supported demand for Australian resources,” Keith Poore, the Wellington-based head of investment strategy at AMP Capital, which has about $126 billion in assets under management, said in a phone interview yesterday. “We didn’t think there was going to be a hard landing in China and that seems to have been the case. This year will be more about how fast the recovery is in China.”