Australian Stocks: What Happened Today?

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This story features QANTAS AIRWAYS LIMITED, and other companies.
For more info SHARE ANALYSIS: QAN
The company is included in ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

Download related file: afternoon_report_2013-03-27

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

Asia takes Wall Street lead on strong data

On the back of strong U.S. economic data released overnight and the Dow Jones hitting a new record, Asian markets got off to a positive start today.

Gains were limited in Japan, however, as about 80% of the companies in the nation’s Topix Index traded ex-dividend today. The yen, meanwhile, slid for a second day ahead of Bank of Japan Governor Haruhiko Kuroda appearing before parliament tomorrow. Kuroda said yesterday that he’s aiming for an annual inflation rate of 2% in two years. Japan’s consumer prices declined 0.3% in the year through January 2013.

On the local market today, Qantas Airways ((QAN)) added 2.3% after the competition regulator granted the airline final approval for its alliance with Emirates. Fortescue Metals Group ((FMG)) led iron ore companies higher, rallying 4.5% after the price of iron ore posted its fourth consecutive gain yesterday to US$137.1/t CIF Tianjin.

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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