Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Japanese stocks open 1.37 per cent higher

TOKYO stocks opened 1.37 per cent higher on Monday as the president of Cyprus indicated apparent progress in negotiations on a crucial bailout for the island to avert the collapse of its banking system.

The Nikkei 225 index at the Tokyo Stock Exchange was up 169.08 points to 12,507.61 at the start.

Bargain-hunting emerged from the outset following a sizeable decline in Japanese shares on Friday, while market participants were encouraged by a rebound in US stocks and the prospect of a deal on the Cyprus bailout.

The Dow Jones Industrial Average finished up 90.54 points (0.63 per cent) at 14,512.03 on Friday as the rebound followed market losses on Thursday due to some weak earnings reports and uncertainty about Cyprus.

"The foreign investor base, which is key for Japan stocks, remains resilient, as the government's promises for a more stock-friendly Bank of Japan have materialised as advertised," said Hiroichi Nishi, general manager of equities at SMBC Nikko Securities.

"The Cyprus banking problem is a point of focus, but has yet to seriously derail the current equity rallies in the United States and here in Japan," Nishi told Dow Jones Newswires.

Talks with Eurogroup partners on conditions for resurrecting a Cyprus bailout to avert a looming banking system meltdown finally got under way after a delay of four hours on Sunday.

The euro jumped after the negotiations in Brussels appeared to be bearing fruit early on Monday, according to a tweet from Cypriot President Nicos Anastasiades.

"Efforts have culminated," read a translation from the Greek, with EU sources subsequently stating that a preliminary agreement was in place to hit Bank of Cyprus depositors with a massive 40 per cent "haircut" on deposits of more than 100,000 euros pending endorsement by Eurogroup finance ministers.

The euro changed hands at $1.3023 and 123.61 yen in early Asian trade on Monday, up from $1.2986 and 122.72 yen late Friday in New York.

The US dollar rose to 94.92 yen in Tokyo from 94.46 yen in New York.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Apple blames others for higher costs

APPLE has blamed global music labels and movie studios for making it more expensive for Australians to download music, television shows and movies than people in the US.

And the global technology giant knows Australians are angry about it.

"We are hearing comments in Australia that, frankly, make us uncomfortable," Apple vice president for Australia, New Zealand and South Asia Tony King said.

"We are acutely aware of headlines that might be reported in a newspaper, or a letter that we may receive from a customer that is concerned that a song price on iTunes in Australia would be, or may be, more than the (song price) in the US."

Mr King told a parliamentary committee in Canberra on Friday that the price Apple charged Australians to download digital content was determined by arrangements with the music labels and movie studios.

These content owners had different charges for content distributed in different countries, he said.

"The cards, so to speak, are in the hands of the folks who own the content," Mr King told the committee.

"We would urge the committee to talk to the content owners to understand why there may be differential pricing."

Mr King said exchange rates, local freight costs, import duties and local sales taxes also influenced the prices for computers, laptops, tablet and mobile devices.

The committee will also hear from Adobe and Microsoft later on Friday.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Aussie market higher at noon

THE Australian stock market was firmer at noon, on track to post a third straight day of gains, with the healthcare and industrials sector leading the broader market higher.

At 12.06pm (AEST), the All Ordinaries index had risen 38.4 points, or 0.84 per cent, to 4618.2 points.

On the ASX 24, the September share price index futures contract was up 36 points at 4555 points, with 18,451 contracts traded.

The local bourse opened about 0.9 per cent higher, but eased back during the morning in keeping with trading patterns of recent times amid sluggish volume and turnover on the last day of the 2010/11 financial year.

Bell Potter senior adviser Stuart Smith said the market had for the past several months gone through "a bit of a spell" between 11.30am and 12pm.

"I'm don't know if it's waiting for overseas markets to open or what, but it sounds like it," Mr Smith said.

"We are in bear phase, but we are trying to climb out of the bear pit," Mr Smith said.

"We are just heading into a positive direction for end of the year and I think everybody is happy with that."

The best-performing sector at 12.06pm was healthcare, up 1.75 per cent according to IRESS data.

Industrials (up 1.59 per cent) and utility stocks (up 1.33 per cent), also were strong during the morning.

Overnight, Wall Street extended gains to a third straight day, while futures contract prices for gold, oil and copper also settled firmer.

Meanwhile, a positive vote in the Greek parliament on austerity measures designed to avoid the nation defaulting on its debts also buoyed market sentiment.

Making news today, Insurance Insurance Australia Group (IAG) maintained guidance of an insurance margin of 8-10 per cent for 2010/11, after saying the Christchurch earthquake earlier in June would cost up to $65 million in net insurance claims.

IAG was steady $3.38, while the insurer's industry peers were flat to higher. QBE was steady $17.04, Suncorp was up one cent at $8.02, and Bank of Queensland was up nine cents, or about 1.2 per cent, at $8.14.

The biggest mover was CSL, which advanced 2.4 per cent, or 77 cents, to $33.07.

National turnover in Australia was 1.15 billion securities worth $1.63 billion.

There were 647 stocks up and 352 down, while 376 were unchanged.

View the original article here

Stocks close higher after austerity vote

THE Australian share market ended the last day of the financial year on a strong note after Greece passed austerity measures to avoid a default on debt.

The benchmark S&P/ASX200 index today closed up 78.5 points, or 1.73 per cent, at 4608 points, while the broader All Ordinaries index rose 80 points, or 1.75 per cent, to 4659.8 points.

On the ASX 24, the September share price index futures contract was up 80 points at 4599 points, with about 37,000 contracts traded at 4.19 (AEST).

It was the third straight day of gains.

A positive vote in Greece on austerity measures designed to avoid the nation defaulting on its debts buoyed sentiment, EL&C Baillieu Stockbroking director Richard Morrow said.

He said short-sellers closing out trades on the last day of the month also pushed the market higher.

The ASX200 had fallen by more than 7.3 per cent since April 11 but the fall would have been greater if not for gains of 3.3 per cent in the past three days.

"It's not a bad knee-jerk reaction to the performance of the leading global equity markets overnight and Greece coming to a temporary solution, putting that to bed for at least a day," Mr Morrow said.

People on the short side of the market have done awfully well in their interest to close out trades."

The healthcare and industrials sector lead the broader market higher, with health stocks up 2.09 per cent and industrials 2.42 per cent.

Healthcare company CSL shot up 76 cents, or 2.35 per cent, to $33.06, and steelmaker BlueScope Steel rose 5.5 cents, or 4.78 per cent, to 120.5 cents.

Making news today, Insurance Insurance Australia Group was up two cents at $3.40 after maintaining guidance of an insurance margin of between eight and 10 per cent for 2010/11. This was after it said the Christchurch earthquake would cost up to $65 million in net insurance claims.

Preliminary national turnover was 2.96 billion shares worth $5.47 billion.

There were 822 stocks up and 415 down, and 423 unchanged.

View the original article here