(Bloomberg) -- Australian stocks gained. Macquarie
Bank Ltd. advanced after it said first-quarter profit rose
``substantially,'' and Woodside Petroleum Ltd. rose after it said
second-quarter sales increased 14 percent.
``Macquarie was more positive than they normally are and
Woodside got a bounce after production came in as forecast,'' said
Troy Angus, who helps manage the equivalent of $2.1 billion at
Paradice Investment Management Ltd. in Sydney. ``Corporate
Australia is doing so well. With the strong domestic economy we're
likely to see a pretty robust reporting season.''
Read more at Bloomberg Stocks News
Bank Ltd. advanced after it said first-quarter profit rose
``substantially,'' and Woodside Petroleum Ltd. rose after it said
second-quarter sales increased 14 percent.
``Macquarie was more positive than they normally are and
Woodside got a bounce after production came in as forecast,'' said
Troy Angus, who helps manage the equivalent of $2.1 billion at
Paradice Investment Management Ltd. in Sydney. ``Corporate
Australia is doing so well. With the strong domestic economy we're
likely to see a pretty robust reporting season.''
Read more at Bloomberg Stocks News
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