Australian Stock Market Report – Midday 1/30/2013

By Steven Daghlian, CommSec Market Analyst,

Shutterstock photo

(12.30pm AEDT)

The local market is improving for the 10th straight session, with the All Ordinaries Index (XAO) 0.2 per cent or 11.8 pts higher to 4922.6. July 2009 was the last time the market enjoyed such a long winning streak and shares are trading at their highest levels in 2 months.

Global markets ended higher overnight, with American equities (shares) boosted by some stronger than expected profit results from pharmaceutical companies Pfizer and healthy sales from Amazon. Economic news was a touch disappointing however, with home prices and consumer confidence declining.

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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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