Markets Live: Stocks mount modest recovery

Australian shares are lower, but hold up better than Wall Street which posted sharp falls as US investors brace for the start of a poor earnings season. Consumers perk up a little more after rate cut  Nine deal scramble - MacKenzie exits board 3.51pm: The Australian sharemarket did quite a decent job of absorbing the negative lead provided by Wall Street to escape the day with just a modest move lower by the local index, CMC Markets trader Tim Waterer says: The downgraded IMF growth forecasts served to take steam away from investment confidence in recent trading sessions, with traders again leery over what state financial markets will be in come 2013 and beyond. Recent sharp rises in...