Australian Stock Report - Market Pulse
Midday Market Analysis: October 11
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Publish date: Tue, 11 Oct 2011, 01:40 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 enjoying another positive session so far today, although the gains are slightly muted in the context of the monster move we saw on Wall Street overnight.
Nearly all sectors are in positive territory, with IT, consumer discretionary and materials plays in favour.
In company news, Sundance (SDL) has gone into trading halt with the company planning to respond to media speculation that the proposed takeover by Hanlong has stalled due to the insider trading allegations levelled against senior Hanlong executives.
In economic news, business confidence strengthened in September according to the latest NAB business confidence survey.
The index rose to -2 in September, up from a revised two-year low of -9 in August.
Around the region, Asian markets are all trading higher; the Hang Seng is 3.7% stronger whilst the Nikkei is up 2%.
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