[SYDNEY] Australian shares ended firmer on Tuesday, as mining and financial stocks recovered from sharp losses in the previous session, with Bingo Industries being the biggest gainer in the index after the waste management firm received a buyout offer.
The S&P/ASX 200 index rose 1.2 per cent to 6,742.60 at the close of trade, after it ended 0.8 per cent lower on Monday. The gains seem to be a correction from Monday's downside moves, while positive GDP figures from China on Monday also helped broader sentiment, said Nick Twidale, CEO of ApaC at Sydney-based brokerage FP Markets.
Data on Monday showed that economic growth in Australia's largest trading partner, China, picked up speed in the fourth quarter, with growth beating expectations. "There's no fresh negative news and domestic Covid-19 cases seem to be stabilising. These factors are helping investor confidence squeak back in," Mr Twidale added.
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