Australian Stock Report - Market Pulse
Evening Market Analysis: August 16
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Publish date: Tue, 16 Aug 2011, 05:20 PM
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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 declined for the first time in eight sessions today, with financials struggling on the back of Westpac's poor profit result.
Westpac paced the losses among the big four (-4.4%) after its 3Q cash profit fell from a year earlier.
The other majors were down more than 1% each.
Scepticism over Qantas' plans to restructure its international operations saw its share price fall 0.3%.
In the mining space, Rio Tinto and BHP lost over 1% each, whilst Oz Minerals slumped 3.6% on the back of a disappointing half-year result.
James Hardie strengthened 0.9% after its 1Q underlying result came in slightly ahead of analyst estimates.
The ASX 200 shed 36 points (-0.8%), settling at 4247.
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