MARKET COMMENT: S&P/ASX 200 Up 0.7% As Gains Broaden
27 Mars 2013 - 6:03AM
Dow Jones News
0431 GMT [Dow Jones] Australia's S&P/ASX 200 is up 0.7% at
4985.1 as gains have broadened. Early strength in resources has
spread to industrials, healthcare, financials, healthcare, and
telecommunications. While it's tempting to link the strong
performance in major stocks to end-of-quarter buying, share trading
volumes are light before the Easter long weekend. Among heavyweight
standouts, AMP (AMP.AU), QBE (QBE.AU), Macquarie (MQG.AU),
Fortescue (FMG.AU), Brambles (BXB.AU), Suncorp (SUN.AU), Origin
(ORG.AU), Telstra (TLS.AU), Rio Tinto (RIO.AU), BHP (BHP.AU) are up
0.8%-4.1%. Traders appear to be positioning themselves for further
gains in the event that U.S. equity market strength accelerates on
a move above the Oct 2007 peak of 1576 on the S&P 500. U.S.
pending home sales data will be in focus tonight.
(david.rogers1@wsj.com)
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