The Australian sharemarket has pulled back from a six-year high but is holding in the green on the back of upbeat local earnings reports. At 12. 05pm (AEST), the benchmark S&P/ASX200 index increased 22. 8 points, or 0. 4 per cent, to 5,657. 4, while the broader All Ordinaries index added 22. 6 points, or 0. 4 per cent, to 5,651. 8.
CMC Markets sales trader Niall King said geopolitical concerns were pushed to the back burner in global trade overnight. "With a decent lead from our US counterparts to lean on and a plethora of generally positive corporate earnings to digest, local participants have maintained their recent bullish bias," Mr King said.
Read more here: Business Spectator