The Australian share market was moderately higher at noon, buoyed by the banks and energy stocks.
All Ordinaries had added 34 points, or 0.72 per cent, to 4824.
Some analysts are saying "Broadly speaking, there is a feeling of confidence. The Australian economy has really dodged a bullet as well as any in the world. The general feeling is that the banks are going to participate in the general recovery,"
Mineral sands miner Iluka Resources Ltd (ILU) says mineral sands sales revenue for the nine months to September 30 came to $348.7 million, markedly lower than the same period last year.
The company says the result reflects the significant adverse affect in demand for mineral sands products in the first half of 2009 associated with the global financial crisis. However the company says sales recovered in the September quarter with sales revenue 30 per cent higher than the June quarter.
Majority of sectors are in positive territory at midday however the sector with the biggest gain is the Health Care index which gained 88 points to 8,496.
The only sector in the red at midday is the Telco Services index, down almost a point at 1,106.
Gold is trading at $1063.65 US an ounce and the Aussie dollar is trading at 90.75US cents.
15 October Australia MI consumer inflation expectations, Oct Australia RBA Bulletin, Oct Australia RBA Governor speaks Australia Westpac-MI unemployment expectations, Oct EU CPI, Sep EU ECB Monthly Report Japan industrial production and capacity utilisation, Aug Japan, BoJ Monthly Report NZ CPI, Q3 US CPI, Sep US Empire (NY) manufacturing index, Oct US Philadelphia Fed economic activity index, Oct
AUI Annual General Meeting (11:00 AM) BOQ Full Year Result CHO Annual General Meeting (09:00 AM) DOW Annual General Meeting (10:00 AM) DUI Annual General Meeting (09:00 AM) ELD EGM (10:00 AM) IMD Annual General Meeting (11:00 AM) OZL Sep-qtr production report SOT Ex div. 1.0c VES Annual General Meeting (09:45 AM)
Trade what you see, not what you think - You should only trade what your charts are telling you. Avoid directional bias. Don't continue to trade against a trend because you think "it has to reverse".
