Australian Stock Market Report – Midday 11/29/2012

By Juliette Saly, CommSec Market Analyst,

Shutterstock photo

(12.30pm AEDT)

Local stocks are recording positive gains at lunchtime in the East, despite a fairly flat start to the trading session. Overnight, Wall Street staged a remarkable comeback on hopes an agreement on the Fiscal Cliff could be reached before Christmas.

At lunchtime in the East, the All Ordinaries Index (XAO) is up 16.3pts or 0.4pct to 4478.9.

Index leader BHP Billiton ( BHP ) is holding its Annual Gernal Meeting ( AGM ) today. The miner has told shareholders global financial problems continue although there are some signs of stabilisation. At lunchtime in the East, BHP shares are up 0.4pct to $34.15.

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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: AGM , BHP

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