Australian Stock Report - Market Pulse

Midday Market Analysis August 10

marketpulse
Publish date: Wed, 10 Aug 2011, 01:42 PM
marketpulse
0 1,810
Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.

The Aussie market is holding up well heading into the afternoon session, currently trading more than 3% stronger.

Local investors have run with the bullish leads provided by The Street overnight, with nearly all sectors showing strong gains.

In company news, Computershare reported full-year results this morning, recording a 10% decline in annual profit. The stock traded as much as 3% higher following the release but has since traded back towards breakeven.

In economic news, consumer sentiment has fallen further into negative territory amid concerns about the state of the global economy, interest rates, housing prices and the proposed carbon tax.

The Westpac-Melbourne Institute fell by 3.5% in August, from 92.8 to 89.6.

Around the region, Asian markets are also enjoying solid gains; the Hang Seng is up 3.8% and the Shanghai Composite is 2% higher.

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment