Australian shares lift after Warren Buffet's move into the market
Xinhua, June 17, 2015 Adjust font size:
Australian shares lifted at the market opening, largely based on U.S. billionaire Warren Buffett' s buying into Australia via the insurance company IAG.
The ASX/S&P200 was up 0.7 percent to 5573.6 points.
Major banks and telco Telstra all gained more than 1 percent, pushing the index higher.
The Commonwealth Bank of Australia rose 1.5 percent, Westpac added 1.1 percent, ANZ lifted 1.9 percent and National Australia Bank gained 1.6 percent.
Miner Rio Tinto bounced back after a weak finish on Tuesday, lifting 0.4 percent, while BHP Billiton dropped 0.1 percent.
Investors also seemed to support the resignation of Woolworths CEO Grant O'Brien's over a poor profit performance, with shares climbing 0.9 percent after Wednesday's announcement he was leaving the supermarket giant. Endi