25 Aug 2008

Australian stocks rise

12:51 pm on 25 August 2008

Major Australian indexes rose on Monday amid full-year results for local companies.

At 1015 AEST, the benchmark S&P/ASX200 was 86.9 points higher, or 1.76% to 5,018.3, while the broader All Ordinaries gained 80 points, or 1.6% to 5,090.2.

The September share price index futures contract added 107 points to 5,003 on volume of 7,907 contracts.

BHP Billiton Ltd was up nine cents at $A40.24, while Rio Tinto Ltd gained $A3.30, or 2.73% to $A124.30.

Wall Street jumped on Friday as oil prices dipped again and Federal Reserve chairman Ben Bernanke said US inflationary pressures were likely to moderate.

The Dow Jones rose 197.85, or 1.73% to 11,628.06, while Standard & Poor's 500 lifted 14.48, or 1.13% to 1,292.2. The NASDAQ rose 34.33, or 1.44% to 2,414.71.