MELBOURNE, Jan 7 (Reuters) - Australian stocks extended their rally on Wednesday, rising 1 percent, lifted by the top miners on tentative optimism that generous spending by governments around the world may speed up an economic recovery.

MELBOURNE, Jan 7 (Reuters) - Australian stocks rose 1 percent on Wednesday, lifted by the top miners on tentative optimism that generous spending by governments around the world may speed up an economic recovery.

MELBOURNE, Jan 7 (Reuters) - Australian stocks rose 1.5 percent on Wednesday, lifted by the top miners on cautious optimism that government spending drives around the world may speed up an economic recovery.

LONDON, Jan 7 (Reuters) - Oil fell slightly on Wednesday, but drew support from cold weather and an escalation in the Ukraine-Russia dispute that has choked off natural gas supplies and increased demand for refined oil products.

SYDNEY, Jan 7 (Reuters) - The Australian dollar <AUD=> held firm near three-month peaks on Wednesday as appetite for riskier assets continued to improve on optimism stimulus plans in the world's largest economies would help global growth recover.