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Australian Stock Market Report – Morning 3/6/2013

US MORNING REPORT

(8am AEDT)

The US ISM services index rose from 55.2 to 56.0 in February, the highest level in a year and above forecasts centred on result near 55.0. The exports sub-component of the index hit the highest level in almost six years. The Redbook chain store sales index was up 2.2pct in the latest week on a year ago.

European shares posted solid gains on Tuesday. Mining stocks led the way, rebounding after the previous day´s sell-off. Shares in Rio Tinto were up by 3.7pct in London trade while shares in BHP Billiton rose by 3.5pct. The benchmark FTSEurofirst 300 index rose by 1.8pct to 4-1/2 year highs while the UK FTSE index lifted by 1.4pct to 5-year highs and the German Dax gained 2.3pct.

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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.

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