Australian Stock Report - Market Pulse
Midday Market Analysis: Modest Gains
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Publish date: Fri, 16 Dec 2011, 01:46 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 muted gains so far today, with the XJO currently 20 points ahead at 4160.
Most sectors are stronger, with utilities and telcos leading the move higher.
Conversely, consumer discretionary and IT stocks are the laggards.
In company news, JB Hi-Fi (JBH) has been punished by traders, slumping a whopping 14% after announcing yesterday after the bell that they expect their 1H operating profit to fall by 5%.
Elsewhere, Coca-Cola Amatil (CCL) is up 1.4% after announcing a sale of shares in Pacific Beverages and releasing their latest trading update.
Around the region, Asian markets are mainly stronger; the Hang Seng (+0.4%) and Nikkei (+0.3%) are amongst the better performers.
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