Australian Stock Market Report – Midday 1/24/2013

By Steven Daghlian, CommSec Market Analyst,

Shutterstock photo

(12pm AEDT)

The Australian market is improving for the seventh straight session; the longest winning streak in around three months. The All Ordinaries Index (XAO) is up 0.1 per cent or 2.9 pts to 4815. The miners are holding the market back today while the financials are helping to keep the situation a little positive.

Overnight, the world's biggest company Apple said it made $13.1 billion over the past three months while revenue/sales hit $54.5 billion. Despite this sounding like a ridiculous amount of money, sales fell short of expectations which have resulted in a 10 per cent slump in its share price after-market hours.

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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
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