Australian Stock Report - Market Pulse

Evening Market Analysis: September 5

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Publish date: Mon, 05 Sep 2011, 05:23 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 has suffered a horror start to the new trading week, with stocks hammered on the back of Friday night's dismal jobs report out of the US.

No sector was spared from today's rout, although energy stocks bore the brunt of the selling.

Woodside fell 3.1% and Santos slumped 4.9%.

Miners were hit hard amid fears an economic slowdown will curb commodity demand.

Rio Tinto and BHP both lost more than 3%, with the latter going ex-dividend.

There were pockets of strength, however, with some gold miners advancing on the back surging bullion prices; Newcrest edged up 0.7%.

All of the major banks ended sharply lower, with NAB the worst performer, down 3.2%.

The ASX 200 tumbled 101 points (-2.4%), settling at 4142.

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