The Australian share market was more than one per cent higher at noon, buoyed by rises in miners and the banks.
All Ordinaries index had risen 72 points, or 1.5 per cent, to 4,873 points.
Some analysts are saying "We had a very positive lead from offshore overnight, with both the US market and commodity prices trading significantly higher. The copper price rose because of the weaker US dollar and supply disruptions, and that has flowed through our resource sector. Gold stocks are also faring well on the back of continuing strength in the gold price,"
The ABS has released data showing that Australia’s international merchandise imports increased 14 per cent to $17.6 billion in September from $15.5 billion in August.
Institutional investors have snapped up shares offered as part of an $895 million capital raising by Oil Search Ltd(OSH), with the offer oversubscribed. The oil and gas company said on Tuesday it had completed an institutional placement of 151.7 million new ordinary shares at $5.90 per share.
All sectors are in positive territory at midday, however the sector with the biggest gain is the Materials index which gained 204 points to 11,964.
The sector with the smallest gain at midday is the Telco Services index, up 8 points at 1,092.
Gold is trading at $1063.50 US an ounce and the Aussie dollar is trading at 92.87US cents.
21 October
Australia leading economic index, Aug
Australia motor vehicle sales, Sep
NZ credit card spending, Sep
UK minutes of BoE meeting, Oct
US Fed Beige Book
ACG Annual General Meeting (11:00 AM)
API Full Year Result
AXA Sep-qtr cashflows
BHP Sep-qtr production report
CGS Annual General Meeting (01:00 PM)
CMW Annual General Meeting
CRZ Annual General Meeting
CXG EGM (10:30 AM)
EMB Annual General Meeting (11:00 AM)
FGL Annual General Meeting
MNL Annual General Meeting (11:30 AM)
OEC Annual General Meeting (10:00 AM)
PLV Annual General Meeting (11:00 AM)
POZ Annual General Meeting (10:00 AM)
QAN Annual General Meeting
RCY Annual General Meeting
REF Annual General Meeting
SKE Annual General Meeting
TWO Annual General Meeting (11:00 AM)
WTP Annual General Meeting (10:30 AM)
Sold OSH at $6.27
Sold CAA at .039c(Just over night hold)
PRR sold at .17c(will re enter at .16
http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/
Take losses - Until you can accept stopping out of losing trades, you will not become a consistent, profitable trader. No one wins every single trade. Cut your losing trades according to plan.
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