SYDNEY, July 9 (Reuters) - Australian shares rose 1.2 percent on Wednesday
as comments from the U.S. Federal Reserve helped calm credit market worries,
lifting financial firms such as National Australia Bank Ltd S&P/ASX 200 index <.AXJO> rose 60.7 points to 4,993.6 by
0120 GMT, after falling to its lowest level since August 2006 in the previous
session.
New Zealand's benchmark NZX-50 index <.NZ50> rose 0.85 percent, or 26.99
points, to 3,187.58. The most heavily weighted stock, Telecom Corp of New
Zealand dollar gained against other currencies.
Woodside Petroleum fell 1.7 percent to A$57.70, Santos Ltd News Limited 2008. All rights reserved.
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