Australian Stock Report - Market Pulse

Evening Market Analysis: Subdued Afternoon

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Publish date: Mon, 12 Dec 2011, 05:07 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 started the new trading week on a strong note after international markets collectively rallied on Friday night.

At home figures released by the ABS showed that the trade surplus declined by $654 million in October (from September), which fell short of economists' forecasts.

The surplus last month was a seasonally adjusted $1.6 billion compared to a forecast of $2 billion. Exports were flat while imports climbed 2%.

The major banks helped drive the market higher; CBA was up 2% whilst rival NAB advanced 1.4%.

The big miners were buoyed by stronger commodity prices; Rio Tinto added 0.6% while BHP put on 1.9%

Elsewhere in the resources sector, Aston Resources (+1.4%) and Whitehaven Coal (-1.4%) have agreed on a merger that will create the largest pure play coal miner in Australia.

The ASX 200 jumped 50 points (+1.2%), settling at 4253.

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Evening Market Analysis: Subdued Afternoon is a post from: Australian Stock Report Market Pulse Blog

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