The Aussie market has surged higher this morning, on the back of the positive leads provided by international markets on Friday night and the growing likelihood that pro austerity parties will form government in Greece.
The XJO is presently 70 points (+1.7%) stronger, holding around 4125.
Nearly all sectors are in the green, with energy, financials and industrials the pick of the bunch, whilst telcos are the laggards.
In company news, Fairfax has climbed 7.4% after announcing job cuts and a paywall for some of its news websites.
Elsewhere, Lynas Corp has jumped 9.3% after a bid to block the company building a processing plant in Malaysia was dismissed.
Around the region, Asian markets are enjoying similar strong gains to the Aussie; the Hang Seng is up 1.7% and the Nikkei is up 1.8%.
Written by: marketpulse Other posts from: marketpulse
Posted in Market Analysis, Midday
No Comments »
Leave a Reply
You must be logged in to post a comment.