Stocks Soar After Us Pick-up
The Age
26 March 2008
Vanessa Burrow, Markets Reporter
AUSTRALIA'S biggest bank, Commonwealth Bank, had its best day in almost 16 years as investors added about $50 billion to the value of the sharemarket as a whole.
US markets provided the spur, with two positive sessions while Australians were enjoying the Easter public holidays.Part of the impetus for the US upswing was a tentative sign yesterday of a pick-up in the US housing market. Also lifting spirits was investment bank JPMorgan Chase's agreement to raise its offer for troubled peer Bear Stearns from the original $US2 a share to $US10 a share.The benchmark S
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