Australian Stock Report - Market Pulse
Midday Market Analysis: August 19
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Publish date: Fri, 19 Aug 2011, 01:52 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 is taking its lumps today, with the XJO currently trading more than 2% lower.
The selloff is widespread, with every sector suffering the brunt of investor ire.
The consumer discretionary and energy sectors are hardest hit, whilst the telcos and utilities are the best of the worst.
In company news, Billabong has been wiped out following the release of what have been described as 'really poor results'. The stock has been down as much as 25%.
Around the region, Asian market are all trading sharply lower; the Hang Seng is down 2.4%, whilst the Nikkei is down 2.2%.
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