European Central Bank President Jean-Claude Trichet said the region can overcome its debt crisis, boosting confidence in a global recovery that would benefit Asian exporters making Australian stocks future rise.
Copper prices gained in New York and London giving BHP Billiton Ltd. (BHP), the world’s biggest mining company and Australia’s No. 1 oil producer the possibility to advance. The world’s largest surfwear maker that gets more than a fifth of its revenue in Europe, Billabong International Ltd. (BBG) may also rise. Esprit Holdings Ltd., with 83 percent of its sales in Europe, may climb in Hong Kong.
Source:
http://www.bloomberg.com/news/2011-07-17/australian-stock-futures-rise-as-trichet-boosts-hopes-for-global-recovery.html
http://www.businessweek.com/news/2011-07-17/australian-stock-futures-rise-as-trichet-boosts-recovery-hopes.html
