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STOCKS - AUSTRALIAN SHARES OPEN UP - MAY 1, 2002.
BRISBANE, May 1 Asia Pulse - Australian share prices opened slightly stronger today gains on US markets advances in overnight trading.
The benchmark S&P/ASX 200 index at 1008 AEST nudged up 4.7 points to 3354.7, and the all ordinaries index lifted 5.1 points to 3304.6.
On the Sydney Futures Exchange, the June share price index contract gained 15 points to 3357 - a 2.3 point premium to the underlying index - on a volume of 2883 contracts.
Overnight bargain hunters lifted US stocks, despite another set of lackluster earnings and a dip in consumer confidence.
But analysts have cautioned against too much enthusiasm in the advance, noting that the market lately tends to rally and then pull back when expectations fail to meet reality.
The Dow Jones industrial average closed up 126.35 points at 9946.22. That is the Dow's first triple-digit gain in two weeks.
The technology-focused Nasdaq composite index gained 31.30 points at 1688.23, while the Standard & Poor's 500 index was up 11.47 points at 1076.92.
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Source: HighBeam Research, STOCKS - AUSTRALIAN SHARES OPEN UP - MAY 1, 2002.