Australian Stock Report - Market Pulse
Evening Market Analysis: Bulls Bounce Back
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Publish date: Tue, 17 Jan 2012, 05:05 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 Australian market rose strongly today, buoyed by a positive lead from Europe and stronger-than-expected Chinese economic data.
At home there was a raft of production figures released by miners, big and small.
Rio Tinto put on 1.3% after iron ore production reached record highs, while Fortescue soared 3.9% after its production improved by 45% compared to the same quarter last year.
The big four all improved; NAB and Westpac were the best rising 1.8% and 1.4% respectively.
Goodman Fielder was another notable performer, rocketing 14.3% on the day.
The ASX 200 jumped 68 points (+1.7%), settling at 4216.
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