Australian Stock Report - Market Pulse
Midday Market Analysis: Testing Support
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Publish date: Mon, 23 Jan 2012, 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 slightly underwater so far today with the XJO currently 10 points (-0.3%) weaker, at 4225.
There hasn't been a great deal of action this morning, due in large part to the lacklustre leads from Friday night's international action and the fact that many Asian markets are closed for the Chinese New Year celebrations.
Most sectors are weaker although industrials and telecoms are holding firm. The healthcare and IT sectors are the weakest performers.
In economic news, producer prices rose at a slower pace than forecast last quarter, with lower agriculture costs partly offsetting more expensive industrial machinery.
The PPI advanced 0.3% in the October to December period from the prior quarter, slightly lower than the 0.4% economists expected.
The only other major market which is open in the region is the Nikkei, which is currently up 0.1%.
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