Australian Stock Market Report – Midday 2/12/2013
The Australian share market is slightly firmer at lunchtime in the East, despite falls on European and US markets overnight as investors booked profits in the absence of market moving economic, political or corporate news.
The All Ordinaries Index (XAO) briefly broke through 5000pt level early this morning for the first time since April 2011, hitting an intra-day high of 5002pts as investors focused on local corporate news instead of the offshore falls. The last time the XAO closed above 5000pts was April 11 2011.
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