Australia: Shares rise most in over two months on rate-cut bets

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[BENGALURU] Australian shares climbed on Wednesday by their most in more than two months as expectations grew that the central bank would cut interest rates in two weeks. Read more at The Business Times.

Almost all stocks in the financial sector closed higher with the big-four banks adding between 1.9 per cent and 2.9 per cent.

Service Stream was the top gainer on the benchmark, jumping around 14 per cent, after the National Broadband Network announced plans to upgrade infrastructure.Buy-now-pay-later sector bellwether Afterpay climbed 2.9 per cent, while smaller peer Sezzle jumped on a partnership with a unit of Ally Financial.

Local shares of Australia and New Zealand Banking Group and Westpac added 0.8 per cent and 0.4 per cent, respectively.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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