Australian Stock Market Report – Midday 1/3/2013

By International Business Times,  January 02, 2013, 09:53:49 PM EDT

Midday Market Report
(1pm AEDT)

Yesterday the Australian share market started the first day of the 2013 trading year in positive territory up 58 points, its best start to a new year since 2001. Helped by the news that the US House of Representatives finally passed the Senate's 'fiscal cliff' bill this afternoon helping to keep the market positive.

Overnight global stock market followed the Asian market higher as expectation of a better year ahead for markets gathered momentum. Today the Aussie market opened higher and investors moved back out of defensive stocks and back into transport, building construction material firms and smaller mining stocks. The Aussie dollar also gained on the back of the more positive global outlook.

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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 The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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