Australian economy's strength could be seen one more time when the major companies in Australia posted their results. The corporate reporting season has almost ended in Australia which has brought relief for the investors. The share market also rose as most of the companies posted positive results.

All the companies had good news for the offering, which improved the sentiments in the markets and a lot of buying could be seen. The retailing giant Woolworths increased its net profit to 1.1 billion dollars as the profits soared by
11.4%.

Presenting a very positive outlook on its future earnings as well as the economy in general the company's share price touched the levels of $26.84 up by 5.5 per cent. The banks also had a good time and so did the leader ANZ. In just 4 months the company's profit touched 1.6 billion dollars, rising by 16 percent.

The only disappointment was the insurer QBE, the numbers might have been positive but failed to meet the investor expectations and the shares suffered by nearly 7%.