CANBERRA: Australian shares rose for a third straight session on Thursday on expectations that the European Central Bank would extend its asset buying campaign at a policy meeting later in the day, with upbeat Chinese import data adding to the bullish sentiment. The S&P/ASX 200 index rose 1.2 percent, or 65.49 points, to end at 5,543.60. The European Central Bank is expected to announce a six-month extension to its quantitative easing programme, according to a majority of economists polled by Reuters.
ECB President Mario Draghi said on Wednesday the bank will look at a combination of policy tools and that ultra-easy monetary policy has given governments in the region time for reforms. Sentiment was further buoyed after China reported unexpectedly strong trade figures, with exports and imports both beating forecasts. Imports of major commodities including iron ore, crude oil, coal, soybeans and copper all surged by volume in November. Australia is one of China’s biggest commodity suppliers.
