Australian stocks higher despite uncertain leads: Afternoon market insights

The Australian sharemarket traded well into positive territory today, despite slightly negative finishes on Wall Street and in the UK overnight.

At 3.30pm the ASX200 was up 1.28% to 4096.6, while the broader All Ordinaries index gained 1.23% to 4135.7.

The dollar first weakened then strengthened in afternoon trade after EU leaders approved a  €120 billion growth pact and announced new plans to refinance ailing banks in the region. The Australian dollar traded at 1.015.

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