10/9/13

Australian stocks seen ending 2013 near 5-year highs - The Economic Times
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ByReuters|9Oct,2013,01.52PMIST
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SYDNEY:Australia'sleadingshareindex
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willendtheyear14percenthigher, StunningPictures:LuxuryonWheels propelledabitfurtherbypositivesentiment surroundinganewfederalgovernmentand betterprospectsfortheglobaleconomy,a Reuterspollfound. TheS&P/ASXindexisforecasttoclosethe yearat5,300points,a2.9percentgainon

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Improvedprospectsfortheworldeconomynowthattheeuro zoneisbeginningtogrowagainwillalsobesupportiveofthe localstockmarket,forecasterssay.

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"WeexpectprofitgrowthtocomeinlinewithasynchronisedrecoveryfromChina,theUS, EuropeandJapan,whichwillhelpearningstogrow,"saidNaderNaeimi,headof dynamicassetallocationatAMPCapitalInvestors. AbigpositivefortheAustralianeconomyhasbeenasharpfallinthestubbornlyhigh Australiandollar,whichisexpectedtofallfurtheraccordingtothelatestReuterspollas theUSFedeventuallywindsdownitsassetpurchases. Adropofover9percentsinceAprilhaseasedcompetitivepressuresanddelivereda profitwindfalltocommodityexporters,whoseproductsarepricedinUSdollars. Analystspinpointedtheindustrials,materialsandenergysectorsasgrowthareas, followingadeclarationfromnewPrimeMinisterTonyAbbotttobeknownas"Mr Infrastructure."Abbotthaspledgedtosupporttensofbillionsofinfrastructuregrowth. Theyearendmediancloseis100pointshigherthantheforecastbyanalystsinaJune poll. SincetheSeptemberhigh,thebenchmarkhaslostsome80pointsasapartial governmentshutdownintheUnitedStatesweighedoninvestorsentiment,though
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economictimes.indiatimes.com/markets/global-markets/australian-stocks-seen-ending-2013-near-5-year-highs/articleshow/23797069.cms

10/9/13

Australian stocks seen ending 2013 near 5-year highs - The Economic Times

analystsbelievethatimpactwillbeshortlived. Lookingfurtherahead,thepollgaveamedianforecastforthebenchmarkindexof5,500 formid2014and5,800forend2014. ButPatersonsSecurities'researchstrategycoordinatorAndrewQuinwasmorebearish, sayingtherehasn'tbeensufficientevidenceofeconomicrecoverytoseethemarketpush muchhigher. Quin'sforecastswere4,900forend2013,5,100forbothmidandend2014. "Almostfouryearsposttheglobalfinancialcrisis,wecontinuetothinkthatquantitative easingcanholdthemarketstogether,butit'snotgivingusthatmuchrealgrowththat we'reseeingcomingthroughinEuropeorintheUSatthemoment,"saidQuin.
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10/9/13

Australian stocks seen ending 2013 near 5-year highs - The Economic Times

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