Australian Stock Report - Market Pulse

Evening Market Analysis: Bulls Show Some Fight

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Publish date: Mon, 21 Nov 2011, 05:22 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 started the week in negative territory following inconclusive leads from overseas markets on Friday night and lingering concerns over Europe's debt crisis.

The bulls tried to defend their ground early on in the piece but eventually rolled over.

It wasn’t a complete disaster however, with the bulls showing some more fight towards the end of the session.

The banks had a mixed day; Westpac was the best of the big four with a 0.3% rise, whilst ANZ was the worst with its 1.6% drop.

There was a notable move in Telecom's shares (-21.9%) after the group finalised the spinoff of its infrastructure unit.

The big miners lost ground amid general market weakness; BHP declined 0.6% and Rio Tinto lost 1.7%.

Beach Energy bucked the trend, jumping 3% as it got closer a completing a takeover of Adelaide Energy.

The ASX 200 shed 14 points (-0.3%) to close at 4163.

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Evening Market Analysis: Bulls Show Some Fight is a post from: Australian Stock Report Market Pulse Blog

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