Sydney, July 12, 2007 (ABN Newswire) - Australian shares rose in morning trade as a rebound on Wall Street spurred buying in recent decliners like Macquarie Bank, while miners BHP and Rio Tinto touched a record on a possible rival bid for Alcan and higher metal prices.
At Midday the ASX200 index has gained 25 points to 6,350 and on the futures market the SPI 200's up 22.
In economic news, the Melbourne Institute Consumer Inflationary Expectations survey found the median expectation of price increases in the coming year eased to 3.5 percent in July from 3.8 percent in June. The result showed Australian consumer inflation expectations moderated for a second straight month in July, unwinding much of the sharp jump seen earlier in the year
The full report is available at the following video and audio links.
News 
