Australian Market Report of August 13: US Economy Stabilizing

  Sydney, Australia, Aug 13, 2009 - (ABN Newswire) - US stocks surged overnight as the Federal Reserve said the economy was leveling out, and it left interest rates unchanged at the end of its two-day policy meeting.The Australian sharemarket hit its ten-month high yesterday lifted by banking stocks. The benchmark S & amp;P/ASX200 rose 11.1 points, or 0.3 per cent, to 4343.1. The broader All Ordinaries gained 11.5 points, or 0.3 per cent, to 4345.9.  

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