Australian Stock Report - Market Pulse

Evening Market Analysis: October 13

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Publish date: Thu, 13 Oct 2011, 05:12 PM
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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.

Aussie shares strengthened today following last night's rally on global markets.

The other catalyst for today's gains was a better-than-expected September jobs report, which helped to allay fears of a domestic economic slowdown.

Resource stocks headlined the session's gains, with BHP putting on 1.5% and Rio Tinto rising 2.8%.

Iluka was a standout (+9.6%) following a strong 3Q11 production report.

Among the financials, Bank of Queensland edged up 1.4% despite a 14% drop in its FY11 net profit.

All four big banks strengthened amid easing concerns over their exposure to Europe's debt crisis; CBA advanced 0.3% whilst Westpac climbed 0.6%.

The ASX 200 added 40 points (+1%), settling at 4245.

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