Australian shares track regional gains after Fed cut; NZ up [Reuters]
MACQUARIE GROUP LTD S/ADR (MQBKY)
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Source: Reuters
Australian shares track regional gains after Fed cut; NZ up - Reuters 3 Min Read * Financials boost benchmark * Energy stocks recoup losses from last session * Miners lead losses By Nikhil Subba Sept 19 (Reuters) - Australian shares inched up on Thursday, mirroring regional gains after the U.S. Federal Reserve lowered interest rates as expected, but offered mixed signals on their next move, nudging markets to step cautiously. The S&P/ASX 200 index rose 0.7% or 48.2 points to 6,729.80 by 0252 GMT. The benchmark shed 0.2% on Wednesday. Fed Chair Jerome Powell said the central bank was prepared to be “aggressive” if necessary, but signalled a higher bar to further reductions, which would be based on data and the health of the economy. “The U.S. Fed is moving just a little and is taking precautions, because if they move too quickly, they could have consequences the other way,” said Doug Symes, senior client adviser at Novus Capital. “And because of the conservative rhetoric, it leaves the
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