Sydney, July 31, 2007 (ABN Newswire) - The Australian market has managed to extend yesterday's gains, rising 0.4 per cent in early trade today. A rise in base metal prices has given the big miners a boost. Investors have regained some confidence ahead of our reporting season.
At Midday the ASX200 index has gained 18 points to 6,127 and on the futures market the SPI 200's up 28.
In economic news, the National Australia Bank is reporting the business conditions index has risen 3 points to 20 in the second quarter. The Australian Bureau of Statistics is reporting June building approvals were up a higher than expected 7.5 per cent, while the central bank is reporting June private sector credit was up 1.8 per cent
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