Australian Stock Report - Market Pulse

Evening Market Analysis: October 26

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Publish date: Wed, 26 Oct 2011, 05:08 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.

The Aussie market overcame a sluggish start to finish today in positive territory.

Despite a poor lead from Wall Street, sentiment turned around after data showed inflationary pressures were receding, setting the stage for a potential rate cut next week.

Retailers benefited most from the CPI data, with David Jones and Myer rising more than 3.5% each.

The possibility of lower interest rates spurred gains in the big four; Westpac and NAB were the best performing, up more than 1% each.

However the recent sharp fall in iron ore prices capped the advance among some of the bigger miners; BHP lost 0.6% whilst Rio ended up a modest 0.2%.

The ASX 200 put on 15 points (+0.4%), closing at 4243.

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