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Australian stocks level up: Afternoon market insights

Myriam Robin /

The Australian sharemarket rose again this afternoon.

The ASX200 rose 1.1% to 4118.40, while the broader All Ordinaries gained 1.12% to 4170.5.

Ric Spooner, chief market analyst at CMC Markets, says global markets were continuing the process of establishing a base level from which to await further clarity on how the Greek crisis will be resolved.

“Investors are encouraged by the German Finance Minister’s statement that Europe would find solutions in order to strengthen sustainable growth,” says Spooner.

“Traders are likely to see this as indicating increasing unity with France and others on the potential for some form of spending stimulus.”

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Myriam Robin

Myriam Robin is a reporter for SmartCompany and its sister site LeadingCompany. She has degrees in economics, international studies and journalism. She likes writing about businesses taking risks and doing new things.

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