Australian Stock Report - Market Pulse
Evening Market Analysis: Afternoon Fade
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Publish date: Thu, 24 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 Australian market finished the day only slightly in the red despite last night’s rout on The Street.
It was a choppy session with the bears taking charge at the open but the bulls driving the market higher during the middle part of the session.
The bears wrestled back control by the close, locking in a sixth straight losing session for the XJO.
The banks had a mixed day; CBA was the best of the big four with a 0.7% rise, whilst NAB was the worst with its 0.6% drop.
The big miners gained ground after a horrible day yesterday; BHP added 0.1% and Rio Tinto put on 0.2%.
Bluescope Steel re-commenced trading today following its heavily discounted capital raising. The stock had a shocker, plummeting 36.0% on the day.
The ASX 200 shed seven points (-0.2%) to close at 4044.
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