Julia Gillard gives a press conference in Canberra, Australia
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Gillard's victory 'a sideshow'

Prime Minister Julia Gillard has trounced former foreign minister Kevin Rudd in a key leadership vote.

Ms Gillard defeated Mr Rudd by 71 votes to 31 to retain control of the ruling Labor party.

Sean Callow from Westpac told the BBC's Asia Business Report that the vote was 'a sideshow' and unlikely to impact the Australian economy.

Mr Callow said investors viewed the vote with 'curiosity and confusion'.