Thanks @shovel40, @Fiji1, @Patterns and morning crew.
Half-time wrap:
The share market surged towards an 11-week closing high after unexpectedly weak economic growth figures bolstered the case for rate cuts next year.
The ASX 200 rallied 97 points or 1.38% by mid-session. Banks, supermarkets and consumer and property stocks led the advance. Gold miners were a rare pocket of weakness after the yellow metal backed off record levels.
The market added to an initial 60-point advance following mid-morning news that the economy grew at half the speed economists expected last quarter. Gross domestic product expanded by an anemic seasonally-adjusted 0.2% in the three months to the end of September, the slowest pace in two years. Annual growth was 2.1%.
“This was the eighth straight rise in quarterly GDP, but growth has slowed over 2023,” Katherine Keenan, ABS head of national accounts, said.
Personal trading: Taken speculators in LCL and NFL.
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