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Despite initial downside trades in the premarket, UBS opened positive and moved with the sector; out-performing financial names included Deutsche Bank that received an analyst upgrade. Additionally early upside movers included British Airways following staff pay reduction speculation, EAD's following a Qantas Boeing BA cancellation.

Posted on March 5, 2013 at 6:46 am GMT. Ioannis Fotiadis, XM Investment Research Desk. The Aussie dollar rallied after much better than expected retail sales data and also a decision by the Reserve Bank of Australia to keep the benchmark interest rate unchanged at.

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