In the face of some bearish leads provided by international markets overnight, the Aussie market is flying so far today.

The XJO is presently 30 points (+0.7%) above water, holding around 4430.

The gains are widespread with every sector in positive territory and energy, IT and consumer staples plays leading the charge higher.

In company news, Woodside Petroleum has jumped 0.7% after announcing that it has sold a minority interest in its proposed Browse liquefied natural gas project to a Japanese consortium for US$2 billion.

Elsewhere, WOTIF.com Holdings has tanked 5.4% after announcing that it expects FY12 net profit to be between 9%-13% higher than FY11, lower than previously guided.

Around the region, Asian markets mainly lower; the Shanghai Composite is down 0.4% whilst the Nikkei is 0.9% weaker.

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Midday Market Analysis: Aussie On Fire is a post from: Australian Stock Report Market Pulse Blog