February 24, 2013 / 11:26 PM / in 5 years

Australia shares edge up on Fed comments; Ten surges

(Updates to open)
    SYDNEY, Feb 25 (Reuters) - Australian shares edged up 0.4
percent early on Monday after reassuring comments from U.S.
Federal Reserve officials that the central bank will maintain
stimulus policy, while weaker metal prices hit mining stocks. 
    The benchmark S&P/ASX 200 index gained 21.1 points
to 5,039.2 by 2316 GMT. The index rose 0.8 percent on Friday,
but still lost 0.3 percent over the week. 
    Australia's troubled third-ranked television station, Ten
Network Holdings, surged 8.5 percent after it sacked
its chief executive late on Friday. 
    New Zealand's benchmark NZX 50 index rose 0.5
percent to 4,236.5 in early trade.
    

 (Reporting by Maggie Lu Yueyang; Editing by Stephen Coates)

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