Australian Stock Report - Market Pulse

Midday Market Analysis: Some Perspective, Please

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Publish date: Mon, 28 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 enjoying a strong session so far today, buoyed by speculation the IMF will step in to help Italy after the nation's borrowing costs surged.

The XJO is 70 points (+1.8%) stronger, trading near 4050.

Financials and materials are the standouts, with BHP, RIO and FMG all up more than 2%, whilst the big four all also enjoying gains of 2% or more each.

In company news, Qantas has announced that it expects underlying pre-tax profits of $140-$190 million (down from $417 in the previous period) for the first-half after booking costs of $650 due to higher fuel prices and the industrial dispute.

The market has taken the news in its stride, with QAN currently up nearly 5%.

Around the region, Asian market area mainly stronger; the Nikkei is up 1.8% whilst the Hang Seng is 1.7% stronger.

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Midday Market Analysis: Some Perspective, Please is a post from: Australian Stock Report Market Pulse Blog

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