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Australian Stock Market Report – Afternoon 2/8/2013

By: International Business Times
Posted: 2/8/2013 2:44:00 AM
Referenced Stocks: SMP

Afternoon Market Report
(17:00 AEDT)

Local stocks ended the week on a sound footing as investors continued to push the index towards the 5000 mark. The re-emergence of European political risk has been one of the main themes for investors globally this week. The local experience suggested that investors were willing to support the market in the face of the modest amount of weakness that was on offer in recent days.Some of the main points of the day included, The stock market hitting a 22-month high, miner Newcrest reporting half year results, the RBA releasing its Quarterly Statement on Monetary Policy ( SMP ) better than expected Chinese trade data and the Aussie dollar hitting a 3 month low.

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