Aussie Stocks Hit 10-Year High as Earnings Season Looms: Chart
(Bloomberg) -- Australia's benchmark index has reached its highest level in a decade as buoyant commodity prices lifted mining stocks last week. And the rally may continue as companies are expected to report stronger profits this year during the February earnings season. Analysts expect earnings per share for resources stocks to rise about 57 percent throughout 2018, more than five times the 11 percent gain expected in the broader index, according to data compiled by Bloomberg.
To contact the reporter on this story: Matthew Burgess in Sydney at mburgess46@bloomberg.net.
To contact the editors responsible for this story: Edward Johnson at ejohnson28@bloomberg.net, Divya Balji, Eric Lam
©2018 Bloomberg L.P.
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