Australian Stock Market Report – Midday 2/22/2013

By Steven Daghlian, CommSec Market Analyst,

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(12pm AEDT)

The Australian sharemarket is starting to record a comeback following yesterday's hefty 2.2 per cent slump. The All Ordinaries index (XAO) is up 1.2 per cent or 58.6 pts to 5057.2. Concerns were high yesterday, which resulted in the local market's biggest daily pullback since May 2012. This Sunday's Italian leadership election was keeping investors at bay while U.S Congress has barely a week to deal with the Fiscal Cliff spending cuts drama.

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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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