Australian Stock Report - Market Pulse
Midday Market Analysis: September 6
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Publish date: Tue, 06 Sep 2011, 02:04 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 local market is running with the bearish leads provided by Europe overnight, with the XJO currently trading more than 1% lower.
The selloff is broad based with every sector underwater; energy, IT and industrials are the hardest hit.
In company news, NAB is reportedly in talks with NBNK Investments to merge its UK operations as part of a joint bid for over 600 branches of Lloyds Banking Group.
Around the region Asian markets are all trading lower; the Hang Seng and Nikkei are down approximately 1% each.
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