Australian Stock Report - Market Pulse
Midday Market Analysis: September 28
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Publish date: Wed, 28 Sep 2011, 01:28 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.
On the back of strong leads from international markets last night, the Aussie market is having another solid session so far today.
The XJO is currently 40 points (+1%) above water with every sector trading in positive territory.
IT, energy and consumer discretionary plays are leading the move higher, whilst the defensive consumer staples, healthcare and telco sectors are lagging.
In company news, SABMiller's $9.9 billion bid for Foster's Group has been approved by the ACCC with the regulator saying it won't oppose the takeover.
Around the region, most Asian markets are trading higher with the Nikkei and Shanghai Composite up slightly in early trade.
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