Australian Stock Report - Market Pulse
Evening Market Analysis: September 19
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Publish date: Mon, 19 Sep 2011, 05:05 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 was smashed today amid renewed concerns over Europe’s debt problems.
All sectors were caught up in the sell-off, amid mounting fears Greece will default before it receives the next tranche of its bailout money.
All of the big banks ended lower; Westpac was the weakest, down 2.1%.
The mining giants struggled amid an uncertain outlook for commodity demand; BHP declined 1.7% and Rio Tinto shed 1.5%.
Some of the retailers were spared from the punishment; JB Hi-Fi added 1% whilst Premier rose 1.5% on the back of its positive FY11 result.
Billabong was the worst performing stock on the market in the top 200, sinking 7.6%.
The ASX 200 fell 68 points (-1.6%), closing at 4082.
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