Australian Stock Report - Market Pulse
Midday Market Analysis: GDP Surprise
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Publish date: Wed, 07 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 performing solidly so far today, with the XJO up 40 points (+1%) at 4300.
Every sector is in the green, with healthcare, financials, and materials the strongest performers on the day.
In economic news, GDP increased by 1% in the September quarter, after an upwardly revised 1.4% in the June quarter.
Over the year to September, GBP grew by 2.5%, seasonablly adjusted.
Economists had been expecting a rise of 0.8% for an annual rate of 2.1%.
Around the region, Asian markets are all stronger; the Hang Seng and Nikkei are the strongest performers, up approximately 0.9% each.
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