Australian Stock Market Report – Midday 1/2/2013
Midday Market Report
The Australian share market started the first day of the 2013 trading year in positive territory up 20 points.
Global stock market and commodity markets closed higher on
Monday, before the New Year's break, but the stalemate over US
budget talks kept the run in mining and service sectors stocks a
little muted in early trade. But as the day went on the markets
pushed aside overseas concerns and rallied higher.
The fact that the US congress is still debating is budget resolution and the house Republicans are still arguing about what would be the best deal for the people saw selling of the US dollar and strong buying in strong interest in Asian shares.
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