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analysts divided

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    0623 GMT [Dow Jones] S&P/ASX 200 hits intraday high 4284.7 points, before
    closing up 16.3 points at 4262.8. Two equity strategists report divergent CY05
    index targets despite both reporting similar market themes. Nomura Australia
    targets 4500 points, reflecting resilience in 50% of index represented by mining
    and banking stocks despite "ructions in other sectors," with market still
    lagging earnings growth. JPMorgan holds 3750 points target, 12% lower, with
    disappointing earnings/outlooks in August from industrial stocks as rising raw
    material and energy costs, increased import competition, slowing consumer
    spending and housing construction impact. (WEL)
 
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