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Local market gains ground

Posted December 4, 2008 11:40:00

The Australian share market is higher in early trade this morning.

Investment bank Babcock and Brown more than doubled in value after its banks agreed to an emergency lifeline to keep it afloat.

At around 10:20am AEDT the All Ordinaries Index was up 57 points to 3,533. The ASX 200 had put on 64 points to 3,598.

The Australian dollar was trading at just over 65 US cents.

Tags: business-economics-and-finance, economic-trends, finance-markets, australia