Australian Stock Report - Market Pulse

Evening Market Analysis: Bulls Hold Onto Gains

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Publish date: Mon, 05 Dec 2011, 05:08 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.

Aussie shares started the week on a strong note, despite a mixed night for overseas markets on Friday.

The major banks all improved on the day; ANZ and CBA put on 0.8% each.

The big miners advanced; Rio Tinto jumped 1%, whilst rival BHP climbed 1.7%, both helped by rising commodity prices.

Elsewhere in the mining space, coal miners Aston Resources (+4.2%) and Whitehaven Coal (+1.2%) have confirmed they are in discussion about a possible merger.

In the energy sector, many uranium miners soared after the Labour Party confirmed uranium sales to India will be added to its policy platform.

Energy Resources (+9.8%) and Deep Yellow (+10.3%) were amongst the major benefactors.

The ASX 200 increased 33 points (+0.8%), settling at 4321.

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Evening Market Analysis: Bulls Hold Onto Gains is a post from: Australian Stock Report Market Pulse Blog

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