Australian Stock Report - Market Pulse
Evening Market Analysis: Defiant Aussie
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Publish date: Thu, 17 Nov 2011, 05:20 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 finished in front today, defying a negative lead from Wall Street overnight.
While the bears used the fear of Europe's crisis infecting US banks to open the market lower, there was not enough conviction to keep the run going with the bulls wrestling back control by session close.
The banks had a mixed day, with Westpac rising 1.1% and NAB dropping 1.1%.
Despite receiving a takeover offer, Spotless Group managed a gain of only 1.7% for the day.
In the mining space, BHP gained 1.1% and Rio Tinto put on 0.6%
Platinum Australia was the big loser of the day, plummeting 23.5% after announcing a share placement at $0.12 cents per share.
The ASX 200 climbed 11 points (+0.3%) closing at 4258.
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