Australian Stock Market Report – Midday 1/25/2013

By Steven Daghlian, CommSec Market Analyst,

Shutterstock photo

(12pm AEDT)

The local sharemarket is higher for the eighth straight session, with the All Ordinaries Index (XAO) up 0.4 per cent or 17.8 pts to 4851.6. Global markets rose overnight, with the Dow gaining for the fifth day while European equities aren't far off two year highs.

The mining sector is holding the market back, with BHP Billiton ( BHP ) down 0.3 per cent or 11 cents to $37.05. Gold producer, Newcrest Mining (NCM) is slumping by 1.33 per cent or 32 cents to $23.65 while iron ore focused, RIO Tinto ( RIO ) is easing by 0.15 per cent or 13 cents to $66.16.

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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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