Australian Stock Report - Market Pulse
Evening Market Report: August 24
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Publish date: Wed, 24 Aug 2011, 05:17 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.
Despite opening strongly, the Aussie market finished today in negative territory amid lingering worries over the sputtering US economy.
In the resource space, Rio Tinto fell 1.7% whilst BHP ended flat ahead of its results which were released after the bell.
Strong commodity prices helped the mining giant deliver an 86% surge in FY11 profit to US$23.6 billion.
WorleyParsons was bright spot in the energy sector (+10%) after forecasting a healthy FY12 result.
Also making reporting news was Qantas, which declined 1.3% despite its underlying result beating analyst estimates.
The ASX 200 slipped six points (-0.1%), closing at 4168.
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