Australian Stock Market Report – Afternoon 7/2/2012

By International Business Times,  July 02, 2012, 04:40:02 AM EDT

AFTERNOON REPORT
(5pm AEST)

The local share market rallied today, on the back of positive sentiment out of the US and Eurozone. Investors around the globe appear to have welcomed the outcomes of the European Union summit last week, which essentially saw leaders agree to use bailout funds to assist troubled banks directly, rather than having the borrowed funds added to government debt. Local investors continued their buying spree today, with stocks finishing in the black for a fourth consecutive session. The All Ordinaries Index (XAO) gained 37pts or 0.9pct by close to finish at 4172.5.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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