Australian Stock Report - Market Pulse
Midday Market Analysis: Tough Morning
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Publish date: Fri, 09 Dec 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 underwater so far today with the local bears running with the negative leads provided by international market overnight.
The XJO is currently 45 points (-1.1%) underwater, with the materials sector bearing the brunt of the selling, followed by the financials.
In company news, AMP is up 3% after announcing Mitsubishi UFJ has bought 15% of the funds management arm of the company for $425 million.
Around the region, Asian markets are all trading lower; the Hang Seng is down 1.6% whilst the Nikkei is 1.4% weaker.
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