Australian Stock Report - Market Pulse
Midday Market Analysis: Widespread Gains
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Publish date: Wed, 09 Nov 2011, 01:26 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 well so far today, with the XJO currently trading 65 points (1.6%) above water.
The gains are widespread with nearly every sector is in positive territory; materials and energy plays are leading the way.
In company news, Downer EDI (DOW) is up more than 7% after reiterating its guidance for fiscal 2012, whilst Ausenco (AAX) is up more than 4% after winning a $1.8 billion copper project contract.
Around the region, all Asian markets are trading higher; the Hang Seng is up 2.3% whilst the Nikkei is 1% stronger.
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