Australian Stocks: What Happened Today?

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            [0] => ((BSL))
            [1] => ((BEN))
            [2] => ((GXL))
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    [1] => Array
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            [0] => BSL
            [1] => BEN
            [2] => GXL
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This story features BLUESCOPE STEEL LIMITED, and other companies.
For more info SHARE ANALYSIS: BSL
The company is included in ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

Download related file: afternoon_report_2013-02-18

The analyst principally responsible for the production of this research report is: Howard Humphreys, Director & Lead Research Analyst, Seismic Research

Japan surges as yen falls, while ASX rises on earnings

Japanese stocks surged today, leading the MSCI Asia Pacific benchmark to an 18-month high as the yen fell after the Group of 20 (G-20) nations refrained from censuring the nation's economic policies, which have strongly influenced the currency market. G-20 finance ministers and central bankers ended talks in Moscow on Saturday, pledging not to “target our exchange rates for competitive purposes”, but failed to single out Japan.

In its return from the weeklong Chinese New Year holiday, China's Shanghai Composite traded in a narrow range and closed slightly down today. The local market added 0.6% today as BlueScope Steel ((BSL)) surged over 15% to a 15-monh high after saying its first half net loss narrowed.

Bendigo and Adelaide Bank ((BEN)) rose 3.2% to lead financials higher after reporting an after tax statutory profit of $189.4 million in 2H 2012, up from $57.9 million in 1H 2012.

Greencross ((GXL)), Australia’s largest vet group, closed 3.1% higher to $3.95 after saying it has raised $11.16 million at $3.40 per share and that it plans to acquire a “very large” Sydney vet hospital.

To read today's report in PDF in full, see link at the top of this story.

(For a more comprehensive summary of last night’s market action see FNArena’s Overnight Report.)

Analyst Certification: Any views expressed in this research report by Seismic Research Solutions Pty Ltd (‘Seismic Research’) accurately reflect the personal views of the analyst(s) about the subject securities or issuers and no part of the compensation of the analyst(s) was, is, or will be directly or indirectly related to the inclusion of specific recommendations or views in this research. The analyst principally responsible for the preparation of this research report receives compensation based on overall revenues of Seismic Research and has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations.

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