The Aussie market is performing well today, following the solid leads provided by European markets last night. Every sector is in the green, with IT and materials stocks leading the move higher.

In company news, NAB is trading flat after reporting a 22% slump in annual profits, with its UK business gaining dragging on the company's results.

Elsewhere, Transpacific Industries shares have dropped 10.1% after reporting a 6% drop in first quarter earnings. In economic news, data released this morning showed a rise of 7.8% in residential building approvals in September.

Economists’ forecasts had centred on a 1% rise in approvals for September. Around the region, Asian markets are all trading higher; the Nikkei (+1%) and Hang Seng (+0.6%) are amongst the best performers.

Midday Market Analysis: Local Bulls Run is a post from: Australian Stock Report Market Pulse Blog