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1.Market Observations

29 Apr 2017 (AFR) – Corporate earnings buoys ASX despite disappointing Trump tax

(29 April 2017, AFR, p27, by: Jessica Sier, Myriam Robin)

‘Generally strong company earnings kept the ASX chugging higher this week, though global disappointment at the unclear tax proposals from the US administration weighed on global market sentiment.  There was solid buying support for the big four banks, as investors factor in an increase in home loan interest rates, while wayward commodity prices have weighed on the big miners.  Over the week, the benchmark S&P/ASX 200 Index and the broader All Ordinaries Index rose 1.2 per cent, respectively. On Friday the ASX 200 reversed early losses to end the session broadly flight at 5924 points, while the All Ords nudged a touch higher to 5948 points.  The benchmark top 200 index pushed through 5900 points mid this week,…’

Read more (and see the weekly wrap charts) at AFR.com (might need AFR login access, or try: AFR.com/trial)

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