Australian Stock Report - Market Pulse
Evening Market Analysis: Bears Win the Day
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Publish date: Tue, 22 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 continued its losing streak today after another horror night in the US and Europe.
At home the bears took the market down on the open. Although the bulls tried to claw back some of those earlier losses, the bears ended up winning the day.
Among the major banks, CBA let go of 0.3%, while rival ANZ declined 1.1%.
The big miners were hard hit after a weak night in commodities; BHP lost 0.8%, and Rio Tinto shed 2.1%.
Bluescope's capital raising didn't help the market's sentiment towards rival OneSteel, which plummeted 10.8% on the day.
The ASX 200 fell 30 points (-0.7%) closing at 4133.
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