MARKETS SPECTATOR: ASX revival

After a four-day, 145-point drop, stocks are up. But future rises are dependent on foreign developments.

After four consecutive days of losses which sent the S&P/ASX200 Index down 4.3 per cent, the benchmark index has risen as much as 2 per cent today as investors snapped up stocks across the board. All 10 sub indexes rose, with telecommunications shares notably the biggest gainers – led by Telstra which climbed as much as 2.4 per cent.

At 1241 AEST the index had gained 59.74, or 1.3 per cent, to 4,715.70 after rising as high as 4,749.70 before midday. The index has fallen 145 points since June 20.

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