Australian Stocks: What Happened Today?

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This story features NORTHERN STAR RESOURCES LIMITED.
For more info SHARE ANALYSIS: NST
The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

Download related file: afternoon_report_2013-03-11

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

Asian markets edge higher on strong U.S. jobs data

Japan’s Nikkei-225 advanced for an 8th session today, leading Asian markets higher in early trade as stronger U.S. payrolls and a weaker yen boosted the outlook for the nation’s exporters. A report released by the U.S. Labor Department on Friday showed U.S. employers added 236,000 jobs to payrolls last month, pushing the unemployment rate down to a four-year low of 7.7%.

Japan’s stocks quickly reversed gains, however, as a report showed Japan’s machinery orders plunged 13% in January, the biggest drop in eight months. Izumi Devalier, a Japan economist at HSBC Holdings Plc in Hong Kong, said he expects “accelerating consumption, residential and public investment”, but that it will take more time to see “robust corporate investment”.

On the local market today, Linc Energy ((LNC)) surged 9.3% after saying a drilling program at Umiat in Alaska was on target for all objectives and Northern Star Resources ((NST)) added 8.7% after the gold miner said it expects Paulsens will produce 110-115koz in 2013.

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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