Australia Market bounces 0.73%

Australian share market advanced for the first time in three sessions in row on Thursday, 28 April 2016, on speculation of interest rates cut by the Reserve Bank of Australia (RBA) next week following Wednesday's surprisingly low reading on inflation. Meanwhile, buying sentiments also buoyed by stirring speculation of more merger and acquisition activity after a billion-dollar takeover bid for clothing company Pacific Brands. Most industry sectors were up, with materials and resources, energy, and retailers, and consumer goods stocks being major gainers. At close of trade, the benchmark S&P/ASX 200 added 37.70 points, or 0.73%, to 5225.40. The broader All Ordinaries added 38.50 points, or 0.73%, to 5289.40. Rising stocks outnumbered declining ones on the Australia Stock Exchange by 612 to 403 and 308 ended unchanged.

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