Referenced Stocks

Australian Stock Market Report – Midday 2/1/2013

By International Business Times,  January 31, 2013, 09:18:42 PM EDT

MID-SESSION REPORT
(11.50am AEDT)

Following on from a quick pullback yesterday, the local market is improving for the 11th time in 12 trading sessions. The All Ordinaries Index (XAO) is up 0.7 per cent or 36.6 pts to 4937.6. The market is anticipating economic news out of China between 12pm (AEDT) and 12.45pm (AEDT) which could drive markets this afternoon.

Rio Tinto ( RIO ), Australia's second biggest mining company is up 1.43 per cent or 95 cents to $67.31 despite declaring Force Majeure (essentially representing a chance occurrence or unavoidable accident or event) at one of its coal mines due to flooding. This is a clause in many contracts that helps free both parties of their obligations in the case of a natural disaster or other 'act of god'.

Read More on International Business Times




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

Referenced Stocks: RIO



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