Australian Stock Report - Market Pulse
Midday Market Analysis: Eurozone Troubles Weigh
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Publish date: Thu, 22 Dec 2011, 02:34 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, weighed down by the bearish leads provided mainly by European markets last night.
The losses are widespread, with nearly every sector in negative territory.
Only the defensive telco sector is in the black, whilst utilities, industrials and consumer discretionary stocks are the hardest hit.
In company news, OneSteel is up more than 8% on news that it has sold its Australian Piping Systems business and related property investments for $100 million.
Elsewhere, Gunns is down a further 8% after requesting and extension of its core debt facilities.
Around the region, Asian markets are all weaker; the Hang Seng is down 0.5% whilst the Nikkei is 0.4% softer.
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