Australian Stock Report - Market Pulse
Midday Market Analysis: Bears Still Hungry
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Publish date: Fri, 25 Nov 2011, 01:44 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 suffering badly so far today, with the local bears sinking their claws into the bearish leads provided by European markets last night.
The XJO is currently down 55 points (-1.3%) at 3990.
Most sectors are underwater, with energy and financials the hardest hit, whilst defensive telcos and healthcare are holding up.
In company news, Woodside (WPL) is taking a bath after delivering a disappointing investor update. The stock is down more than 7% on the day.
On the other end of the spectrum, Nexus Energy continues to be a standout, up more than 3% on the day.
Around the region, Asian markets are all trading weaker with the Hang Seng the worst down 1%.
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