Aussie stocks firmer; Australian Vintage gains

SYDNEY, July 24 (Reuters) - Australian shares rose 0.4 percent on Thursday as hopes of a rescue plan for the two top U.S. mortgage lenders buoyed financial firms, though gains were limited as falls in commodity prices pressured resource firms. The benchmark S&P/ASX 200 index .AXJO added 21.8 points to 5,127.1 by 0243 GMT, after rising 2 percent in the previous session. New Zealand's benchmark NZX-50 index .NZ50 rose 1.7 percent, or 53.87 points, to 3,255.52. The most heavily weighted stock, Telecom Corp of New Zealand (NZX: TEL.nz) , was down 1.7 percent at NZ$3.44. New Zealand's central bank cut interest rates for the first time in five years on Thursday and said further reductions were likely to counter a rapidly slowing economy [ID:nWEL287981]. STOCKS ON THE MOVE * Wine company Australian Vintage Ltd AVG.AX rose 13.6... [read full story]