THE SYDNEY MORNING HERALD: AUSTRALIAN stocks turned around a poor start to rise 1.4 per cent after the US Federal Reserve chairman, Ben Bernanke, reignited hopes for another US rate cut by Christmas.
The domestic rally would have been stronger if National Australia Bank hadn't slipped 2 per cent as brokers downgraded the stock after its $900 million US acquisition.
Dr Bernanke, in a speech delivered this morning Australian time, said renewed turbulence in world financial markets had partially reversed improvements that occurred in September and October. >>>
Mark Alexander
