Australian Stock Report - Market Pulse
Midday Market Analysis: Tough Start
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Publish date: Mon, 21 Nov 2011, 01:43 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 off to a soft start to the new trading week, with the XJO currently 30 points (-0.8%) underwater.
The weakness is widespread, with nearly every sector in negative territory.
Materials (BHP -0.9%, RIO -1.3%, FMG -1%) and financials (CBA -0.9%, ANZ -1.9%) are the hardest hit.
There is no major company news but there are some big movers on the day, Kagara is down 7% whilst Iluka is off 5.5%.
Around the region, Asian markets are all weaker; the Hang Seng is off 2.1% whilst the Nikkei is down a more modest 0.2%.
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