Australian Stock Market Report – Midday 10/29/2012

By Steven Daghlian, CommSec Market Analyst,

Shutterstock photo

(12pm AEDT)

The Australian sharemarket is kicking off the week in positive fashion, with the All Ordinaries Index (XAO) edging higher by 0.4 per cent or 16 pts to 4512.3 at lunch. Most sectors are improving, with the exception of the defensive healthcare and telco sectors.

The S&P/ASX 200 Materials Index is up 0.65 per cent or 64.9 pts to 10125.6. Australia's second largest mining company, Rio Tinto ( RIO ) is 1.33 per cent or 75 cents higher to $57.20 while the larger BHP Billiton ( BHP ) is 0.27 per cent or 9 cents stronger to $33.95.

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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 Nasdaq, Inc.

This article appears in: Investing Commodities
Referenced Stocks: BHP , RIO

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