Australian Stock Report - Market Pulse
Midday Market Analysis: September 21
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Publish date: Wed, 21 Sep 2011, 01:31 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 is flat heading into the afternoon session with the XJO trading just five points higher.
It's not altogether a bad result, given the leads from international markets last night were neutral to bearish.
Most sectors are in positive territory with healthcare, energy and IT the strongest, whilst utilities, financials and materials are struggling.
In company news, Lynas Corp has tumbled as much as 15% after US peer Molycorp was downgraded overnight by JP Morgan, with the research house citing a 'lack of clarity' that recent speculative buying has had on rare earth prices.
Around the region, Asian markets are mixed; the Hang Seng is down 0.9% whilst the Shanghai Composite is up 1% and the Nikkei is flat.
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