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SYDNEY, Feb 2 Asia Pulse - The Australian sharemarket lifted at noon, pulled up by gains in National Australia Bank after the resignation of chief executive Frank Cicutto.
Mr Cicutto's resignation was announced before the market opened this morning and comes in the wake of the bank's $360 million foreign exchange trading scandal.
By 1200 AEDT, NAB was 49 cents or 1.6 per cent higher at .06, although earlier in the day it reached as high as .26.
It was also one of most heavily traded stocks, with over six million shares changing hands at a value of more than $192 million.
The benchmark S&P/ASX ...
Source: HighBeam Research, STOCKS - AUSTRALIAN INDEX HIGHER TO NOON - FEB 2, 2004.