Australian Stock Report - Market Pulse
Midday Market Analysis: October 17
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Publish date: Mon, 17 Oct 2011, 01:27 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 performing quite strongly so far today, running with the positive leads provided by international markets on Friday night.
The XJO is approximately 75 points (+1.8%) above water and every sector is in positive territory, with materials and financials leading the charge.
In company news, Rio Tinto has announced plans to sell 13 aluminium businesses, including refineries and smelters, in order to boost the division's financial performance.
The moves, which followed a strategic review, have been viewed favourably by the market with Rio shares trading nearly 3% higher on the day.
Around the region, Asian markets are trading higher; the Hang Seng is up 2% whilst the Nikkei is 1.5% firmer.
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Midday Market Analysis: October 17 is a post from: Australian Stock Report Market Pulse Blog
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