Australian Stock Report - Market Pulse
Evening Market Analysis: Afternoon Bounce
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Publish date: Thu, 10 Nov 2011, 05:16 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 plummeted today following the huge sell-off on Wall Street overnight.
Wall Street's slide was in response to soaring Italian bond yields, which have now climbed to dangerous levels.
Among the major banks, ANZ suffered a 5.7% fall, while NAB dropped 4.8%, both after going ex-dividend.
The big miners were hard hit with BHP losing 2.2%, and Rio Tinto shedding 2.6%. Fortescue copped the heaviest punishment, sinking over 8.0%.
In the energy space, Nexus defied the negative trend with staggering 14.6% climb.
The ASX 200 slumped 102 points (-2.4%) to close on 4244.
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