Markets: Taking stock of the election

The stock market has had plenty of time to factor in the effects of the election. Despite domestic business uncertainty, global evetns are driving the markets.

If stock markets discount future events then the September 7 Federal election has well and truly been taken into account. More than six months have passed since Julia Gillard announced the September 14 date and a week earlier will make little difference to investors. The S&P/ASX200 Index reached a high this year on May 14 of 5220.987 and a low of 4655.96 on June 25. On Friday it closed at 5116.76, up 9.9 per cent since June 25. On June 26 Rudd reclaimed the Lodge. The index has risen 4.5 per cent since January 30 and 10 per cent since the beginning of the year, according to Bloomberg data.

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