Australian Stock Report - Market Pulse

Evening Market Analysis: Aussie Climbs Again

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Publish date: Thu, 18 Oct 2012, 05:10 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 climbed higher today, following the positive lead provided by international markets overnight.

Closer to home Chinese gross domestic production numbers were released for the September quarter, showing the economy grew by 7.4% on year, in line with analyst expectations. The result was lower than the previous quarter however it was the slowest rate since 2009.

The sectors closed mostly stronger with materials the clear standout performer. Healthcare care, utilities and telcos were the weakest links. The big four banks finished mostly in positive territory with NAB the best of group, advancing 0.6%.

The mining majors all stormed higher on the back of stronger commodity prices. BHP, Rio Tinto and Fortescue rocketed 3.3%, 4.8% and 2.7% in that order.

The ASX 200 put on 31 points (+0.7%) to settle at 4559.

Evening Market Analysis: Aussie Climbs Again is a post from: Australian Stock Report Market Pulse Blog

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