Australian Stock Report - Market Pulse
Midday Market Analysis: Sharply Higher
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Publish date: Thu, 01 Dec 2011, 01:40 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 sharply higher so far today with the XJO currently 90 points (+2.3%) stronger, at 4215.
Material and financial plays are the standouts, with BHP, RIO and FMG all up 4% or more and all of the major banks up 2% or more.
In company news, Boart Longyear (BLY) is up more than 7% after reaffirming 2011 guidance whilst Spotless (SPT) is more than 4% stronger after receiving a raised takeover from PEP.
Around the region, Asian markets are all sharply higher; the Hang Seng is up 5.2% whilst the Nikkei is 2.2% stronger.
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