Local stocks are reversing some of yesterday's spectacular gains, pulled back by weakness in offshore markets overnight. European markets ended mixed despite Greece's pro-bailout New Democracy party claiming victory in the weekend poll, as Spanish borrowing costs jumped pressuring markets. A rally on US Markets was limited as investors feared the Euro debt crisis would continue to worsen. At lunchtime in the East, the broader All Ordinaries Index (XAO) is down 17.8pts or 0.4pct to 4166.1.
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