Midday Market Analysis: Solid Gains for Aussie
2nd Feb 2012
The Aussie market is enjoying solid gains so far today but has come off its early highs a little.
The XJO is currently 45 points (+1.1%) above water, currently trading at 4270 following the strong offshore leads overnight.
The IT sector is the strongest on the day on the back of a 3% gain in Computershare (CPU).
The materials and telcos sectors are also enjoying strong gains whilst the healthcare sector is the only one in the red.
In company news, Lynas today confirmed that Malaysia’s Atomic Energy Licensing Board has announced its approval of the temporary operating licence for its plant in Gebeng, Malaysia.
Elsewhere, Wesfarmers is slightly stronger on the day after Coles posted total 2Q sales of $17.5 billion, a 7.3% rise on the previous corresponding quarter.
Around the region, Asian markets are all trading higher; the Hang Seng is up 1.3% whilst the Nikkei is 0.8% stronger.
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