MID-SESSION REPORT
(12pm AEDT)
Local stocks are trading flat at lunchtime in the East, slightly down from fresh 2012 and 17 month highs reached yesterday.
Another stalemate appears to have arisen in the US budget negotiations, with Republicans refusing to agree to tax hikes for Americans earning less than one million dollars. At the close of trade in the US, the Dow Jones Index was down 99pts or 0.7pct while European markets rallied ahead of the US close, on hopes a deal to avert the fiscal cliff would be reached. Financial stocks led the way in Europe, with the STOXX 600 Banking index up 0.5pct.
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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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.