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Sunday, November 08, 2009
Australian Stocks Gain Early, Financials Strong
By Michael Kitchen
MarketWatch Pulse
LOS ANGELES -- Australian stocks moved broadly higher in early Monday morning trade, with the benchmark S&P/ASX 200 starting the week up 0.6% at 4,622.1. Financials were among the top gainers, with Commonwealth Bank fo Australia up 2.7% after issueing a first-quarter trading update that showed cash profit at about 1.4 billion Australian dollars ($1.3 billion) for the period. Other banks followed higher as well, with Macquarie Group Ltd. up 1.5%, and National Australia Bank Ltd. 1.1% higher.
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