Australian Stock Report - Market Pulse

Evening Market Analysis: October 28

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Publish date: Fri, 28 Oct 2011, 05:21 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.

Despite opening strongly the Aussie market mustered only a small gain today, with traders instead opting to book profits after a huge week.

It was a mixed bag in the financial space; Westpac shed 0.4% whilst NAB rose 0.5%.

Elsewhere in the sector, Macquarie put on 3.3% despite downgrading its full-year profit guidance.

Troubled airliner Qantas lost 1.6% after warning the strikes had cost it $68 million to date.

The big miners capped off a stellar week, with BHP and Rio Tinto rising just under 1% each.

The ASX 200 inched up five points (+0.1%), closing at 4353.

Today's gains brought the market's total weekly advance to 5.1%.

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