Australian Stock Report - Market Pulse

Midday Market Analysis: Aussie Market Trading Higher

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Publish date: Thu, 12 Apr 2012, 10:00 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.

Midday Market Analysis: Aussie Trading Higher

The Australian market is trading higher heading into the afternoon session, with the XJO currently up 32 points (+0.7%), at 4312.

Resources companies are pacing today's gains, with most sectors in positive territory.

However stocks have come off the session's highs after China's economy grew a slower-than-expected 8.1% during the previous quarter.

In company news, Transurban Group is up 0.3% after announcing that March quarter toll revenue increased by 5.1% from the prior corresponding period, to $230.6 million.

Elsewhere, Eldorado Gold has soared 8.9%, after outlining plans to expand gold production by roughly 160% over the next five years.

Regional markets are also enjoying solid gains, although most have come off earlier highs. The Hang Seng and Nikkei are both up over 1%, whilst the Shanghai Composite is flat.

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Midday Market Analysis: Aussie Market Trading Higher is a post from: Australian Stock Report Market Pulse Blog

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