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Additional Information
Market: ASX 200
Sector: Aerospace
Epic: ASX200
News: Latest news
Web Site: Australia Market Wrap
Other Articles: 18-03-201018-03-201018-03-2010

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Thursday March 18, 08:01SmartFocus, Amphion Innovations and National Milk Records confirmed for March 18 Forum

The presentations will start at 6:00pm and finish at approx 7:30pm. After the presentations are complete the directors will also be available to take questions during a free canapé and wine reception.

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Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Wednesday, January 07, 2009

Resource shares keep Australian market at 2 month high

by Proactiveinvestors company news image

Local shares benefitted from higher commodity prices, particularly copper and nickel as resources companies, large and small registered large trading volumes on confidence about fiscal stimulis by governments, despite a lack-lustre lead from Wall Street. Pent-up demand from investors was also evident in buying patterns today with a move away from cash assets to riskier assets.  Whether the market and smaller resource stocks can continue at this pace is un-certain and a divide between physical demand and supply of many commodities and share price gains seems to be evident.

The Japanese sharemarket gained for the seventh straight day, while Hong Kong fell slightly.


The S&P/ASX 200 closed up 37 points, or 1 per cent, at 3779.7, after reaching 3817.9 earlier in the day.


Miners surge in huge trade – big and small


A rebound in metal prices pushed most mining stocks higher.   BHP Billiton (ASX:BHP)was up 90 cents, or 2.8%, to $32.60, Rio Tinto (ASX:RIO) rocketed $3.51, or 8.0%, to $46.93, Fortescue Metals (ASX:FMG) added 13 cents, or 6.1%, to $2.27 and Mirabela Nickel (ASX:MBN) added 30 cents, or 23.5%, to $1.60.


Gold stocks were down as gold retreated overnight, as Lihir Gold (ASX:LGL) gave up 3 cents, or 1.1%, to $2.61 and Newcrest Mining (ASX:NCM) lost $1.91 cents, or 6.0%, to $26.69.


Oil stocks were slightly higher, Santos (ASX:STO) was up 7 cents, or 0.5%, to $15.21 and Woodside Petroleum (ASX:WPL) was up 16 cents, or  0.4%, to $38.77.


Bank stocks mostly down, except Macquarie Group


Bank stocks were mostly weaker as ANZ Bank (ASX:ANZ) lost 5 cents, or 0.3%, to $15.35,  Commonwealth Bank (ASX:CBA) was down 52 cents, or 1.8%, to $28.95, NAB (ASX:NAB) bucked the trend and rose 15 cents, or 0.7%, to $20.89 and Westpac (ASX:WBC)lost 16 cents, or 0.9%, to $16.87.  Macquarie Group (ASX:MQG) rocketed $2.69, or 8.7%, to $33.75.
Wesfarmers (ASX:WES) jumped 5.9 per cent to $19.47.


The Australian dollar jumped to a three month high to 72.49 US cents.

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