Australian Stock Report - Market Pulse

Evening Market Analysis: August 31

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Publish date: Wed, 31 Aug 2011, 05:19 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 finished off today's session in positive fashion, with banks and miners driving the late gains.

Stronger commodity prices buoyed the materials sector, with BHP and Rio Tinto adding 1% each.

Whitehaven Coal was hit hard (-4.9%) however, after its two largest investors sold a chunk of their shares in the group.

The energy majors were mixed despite the overnight gain in oil prices; Woodside slipped 0.4% whilst Beach Energy soared 5.4% on the back of a broker upgrade.

CBA and Westpac led the advance among the big four, climbing 0.6% each.

The ASX 200 rose 27 points (+0.6%), settling at 4297.

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