Australia stocks rise 2.1 pct; Computershare slipsA$9.46. -- Stocks

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Subject: Australia stocks rise 2.1 pct; Computershare slipsA$9.46.

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Thursday May 7, 2009, 12:40 pm

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Date Posted: 01:10:54 06/03/09 Wed

Australia stocks rise 2.1 pct; Computershare slips

Thursday May 7, 2009, 12:40 pm

(Adds Computershare)

MELBOURNE, May 7 (Reuters) - Australian stocks rose 2.1 percent on Thursday, led by miners, extending gains after data showed a surprise rise in Australian employment in April.

The market had started on a positive note after signs U.S. job losses may be slowing stoked optimism the global economy was on the recovery path.

Domestic employment rose by 27,300 in April, pulling the jobless rate down to 5.4 percent and reassuring investors on the health of the Australian economy. [ID:nSYD389866]

The benchmark S&P/ASX 200 index .AXJO rose 80.9 points to 3,948.0 points by 0230 GMT.

New Zealand's benchmark NZX 50 index .NZ50 was up 15.8 points, or 0.6 percent, at 2,847.3.

STOCKS ON THE MOVE

* Computershare Ltd (ASX: CPU.ax) , the world's top share registry business, lost 0.9 percent to A$9.46. Credit Suisse cut its rating on Computershare to underperform from outperform, citing the stock's recent outperformance relative to the benchmark index.

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