Australian Stock Report - Market Pulse
Midday Market Analysis: September 29
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Publish date: Thu, 29 Sep 2011, 01:47 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 struggling so far today, with the local market weighed down by poor leads provided by international markets overnight.
The XJO is currently 1.4% underwater with the materials plays the biggest drag; BHP is down more than 2%, Rio Tinto more than 3%.
Big movers today include Paladin, which has slumped 12% after announcing a capital raising.
In economic news, the ABS today released statistics showing that job vacancies in Australia rose 3.3% in seasonally adjusted terms in the last three months to end August.
The data suggests employment growth could start to pick up after several months of slowdown.
Around the region, Asian markets are mainly weaker; the Shanghai Composite is down more than 1% whilst the Nikkei is down 0.9%.
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