Australian Stock Report - Market Pulse
Midday Market Analysis: August 23
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Publish date: Tue, 23 Aug 2011, 01:38 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 faring well today, currently trading more than 1% higher despite the lackluster leads provided by Wall Street overnight.
Nearly every sector is in positive territory with IT, energy, and utilities leading the way.
In company news, Oil Search announced this morning that first-half profit more than doubled, from US$52.9 million to US$114.5 million, due to higher oil prices
Elsewhere, engineering company Monadelphous Group reported a 14% lift in full-year net profit to $95.1 million. The stock is up more than 5% on the result.
Around the region, Asian markets are generally stronger; the Shanghai Composite is up 0.5% and the Hang Seng is up 0.2%.
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