Australian shares closed up 1.6 percent on Monday, boosted by Friday's gains on Wall Street, robust earnings reports and upbeat outlooks from local companies, dealers said. The benchmark S&P/ASX 200 index ended up 96.7 points at 6,185.2, while the broader All Ordinaries index closed up 97.7 points at 6,184.9.
Winners led losers 865 to 399 with 304 stocks unchanged on volume of 2.0 billion shares worth 5.7 billion (4.75 billion US). The market staged its best weekly gain in 32 years last week after a recent global equity slump, but analysts agreed trading was likely to remain volatile as caution still prevails.
Australia's largest retailer Woolworths was one of the strongest performers following its June year result, which also included guidance of 19 to 23 percent net profit growth for fiscal 2008.
Woolworths rose 50 cents or 1.8 percent to 28.19 dollars. Suncorp Metway, Australia's second-largest general insurer, rose 25 cents or 1.3 percent to 19.50 dollars after reporting its full-year net profit jumped 16.2 percent to a record 1.06 billion dollars.
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