Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT tid,hits,start_time FROM biztimes_stats.stats_articles_au WHERE tid='427755' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT cmt_count FROM ib_articles_counts WHERE id='427755' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_sources WHERE id='3011' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_articles_options WHERE article_id='427755' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id,title,timestamp,keywords FROM ib_articles_4 WHERE id='427383' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id,title,timestamp,keywords FROM ib_articles_4 WHERE id='427277' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id,title,timestamp,keywords FROM ib_articles_4 WHERE id='426900' Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='240' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT article_id FROM ib_topics_index WHERE tid='235' ORDER BY id DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT * FROM ib_rates WHERE article_id='427755' LIMIT 1 Australian Stock Market Report – Midday 1/25/2013 - International Business Times

Australian Stock Market Report – Midday 1/25/2013

  • Rate this Story
  • 0
  • 0

By Steven Daghlian, CommSec Market Analyst | January 25, 2013 1:37 PM EST

MID-SESSION REPORT
(12pm AEDT)

The local sharemarket is higher for the eighth straight session, with the All Ordinaries Index (XAO) up 0.4 per cent or 17.8 pts to 4851.6. Global markets rose overnight, with the Dow gaining for the fifth day while European equities aren't far off two year highs.

The mining sector is holding the market back, with BHP Billiton (BHP) down 0.3 per cent or 11 cents to $37.05. Gold producer, Newcrest Mining (NCM) is slumping by 1.33 per cent or 32 cents to $23.65 while iron ore focused, RIO Tinto (RIO) is easing by 0.15 per cent or 13 cents to $66.16.

Despite weakness from the mining sector, all other industries are trading in the black, with the four big banks up by as much as 1.2 per cent. Westpac (WBC) is the best of the majors; up 32.5 cents to $27.42. National Australia Bank (NAB) and Commonwealth Bank (CBA) are both up by more than 0.5 per cent, while ANZ Banking Group (ANZ) is dragging its heels.

Overnight, the earnings season continued in North America, with investors reacting badly to Apple's $13.1 billion quarterly profit. Expectations are always high for the tech giant and its shares were punished; sold off by over 12 per cent. Microsoft recorded a $6.38 billion profit over the quarter however the result certainly didn't shoot the lights out either.

No major economic news is scheduled for release in Australia today, however it seems that the local market is going to finish the week with a clean slate of five straight sessions of gains.

Following the start of daylight savings in October, major markets in the region will be trading between the hours mentioned below until April 2013.

The Hong Kong sharemarket trades in two sessions each day and will now open for trade between 12.30pm (AEDT) and 3pm (AEDT) while the second session is between 4pm (AEDT) and 7pm (AEDT).

Out of Japan, the first session will be between 11am (AEDT) and 1pm (AEDT) while the second session is between 2.30pm (AEDT) and 5pm (AEDT).

The Singapore exchange will be open for trade between 12pm and 3.30pm (AEDT) for the first session and then between 5pm and 8pm (AEDT) for the second.

U.S futures are currently pointing to a slightly weaker start to trade tonight. The U.S market trades between 1.30am (AEDT) and 8am (AEDT).

So far in trade at lunch, 902 million shares have been traded worth just $3.8 billion. 407 shares are up, 373 are lower and 299 are currently unchanged. Volume is much higher than usual today due to equity option expiry which took place yesterday.

The Australian dollar (AUD) buys US104.4 cents, €78.1 cents and £66.2 pence. The catalyst seems to be related to North Korea's threat to test nuclear weapons targeted at the U.S. This has also resulted South Korean Won weakness.

The AUD is the world's fifth most traded currency behind the U.S dollar, the Euro, Japanese Yen and British Pound. The AUD accounts for around 7 pct of all foreign exchange trades.

[Kick off your trading day with our newsletter]

More from IBT Markets:

Follow us on Facebook

Follow us on Twitter

Subscribe to get this delivered to your inbox daily

Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp>1413954599 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10Host 'subweb.ibtimes.com' is not allowed to connect to this MySQL serverSELECT id FROM ib_slideshows WHERE timestamp<1413954599 AND timestamp>1413695399 AND hits>0 AND outkey='Y' ORDER BY hits DESC LIMIT 10
  • Rate this Story
  • 0
  • 0

Join the Conversation

IBTimes TV
E-Newsletters

We value your privacy. Your email address will not be shared.