Australian Stock Report - Market Pulse

Morning Market Analysis: August 25

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Publish date: Thu, 25 Aug 2011, 09:48 AM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

Markets collectively rallied overnight, with the international leaderboard awash with green ink.

In Europe the FTSE added (+1.5%), whilst the CAC (+1.8%) and DAX (+2.7%) enjoyed even stronger gains.

In the US the Dow added 144 points (+1.3%) to settle at 11321, whilst the broader S&P 500 also added 1.3% and the Nasdaq jumped 0.9%.

It was a third consecutive session of gains for US stocks, with a stronger-than-expected durable good number encouraging investors back into the market after early weakness.

The Canadian dollar was amongst the strongest currencies overnight, gaining against all of its most-traded counterparts.

Elsewhere, the yen declined 0.4% against the greenback and 0.3% against the euro, as Japan took steps to help companies cope with the currency's strength.

Gold fell the most since 2008, slumping 5.6% to US$1757 an ounce amid speculation financial markets are stabilizing.

In company news this morning, AGK has reported a 57% rise in annual net profit to $558.7 million boosted by a gain in the value of derivatives.

There is no major local data due out for today's session.

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Morning Market Analysis: August 25 is a post from: Australian Stock Report Market Pulse Blog

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