Lunch Report: Aussie Shares Lift For A Seventh Day

By Steven Daghlian | More Articles by Steven Daghlian

The Australian sharemarket hit a seven-month high and is lifting for a seventh day, with the ASX 200 up 0.4% at lunch. A strong gain in iron ore prices continues to push mining stocks higher. Much firmer than expected retail spending data has taken some of the shine off this morning’s gains and reduces the chance of a rate cut in coming months.