Telecom Corporation Of New Zealand Limited

Australian shares posted a strong gain yesterday. The better-than-expected employment data also boosted the stocks market. At the close, the benchmark S&P/ASX200 index rose 1.9%, or 71.6 points, at 3938.7, while the broader All Ordinaries index was up 1.9%, or 72 points, at 3912.1.

Economists said resource shares are likely to remain under pressure, dragging the rest of the Australian share market down. The Australian dollar is likely to decline further as falling interest rates and commodity prices weigh on the currency.