Monday, 26 October 2009

Companies have been very aggressive

Sydney - Australian stocks piled on 3 per cent Monday as investors took their lead from a rise on Wall Street and strong company earnings as the reporting season progresses.

The ASX 200 added 135 points, or 3.1 per cent, to 4,426.

"We've certainly had a very good lead in," CommSec economist Craig James said. "Certainly the analysts had been much too gloomy, and the companies have been very aggressive in terms of cutting costs and supporting the bottom line."

No comments:

Post a Comment