Australian stocks open 2.42% higher
Sydney - AFP
Australian stocks surged 2.42 percent at the open on Tuesday as hopes rise that European officials will produce a plan to contain the Eurozone’s debt crisis. At 10:10am (0010 GMT), the benchmark S&P/ASX 200 was 93.5 points higher at 3,957.4, taking its lead from a rally on Wall Street where the Dow Jones Industrial Average gained 2.53 percent overnight. The commodities-linked Australian dollar also rose and was trading at 98.02 US cents early in the session, up from 96.47 cents on Monday.
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