Australian Stock Report - Market Pulse

Evening Market Analysis: Flat Finish

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Publish date: Tue, 24 Jan 2012, 05:17 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 Australian market finished flat today, following another mixed lead from international shares overnight.

There was another spate of production numbers released by Aussie miners.

Newcrest mining (+2.3%) released figures which showed production fell by 20% on-year in the last quarter, but in-line with the guidance given last month.

Gold and copper miner, PanAust (-3.5%) also reported production in line with guidance, but forecasted an increase in cash costs for CY12.

The two major miners were mixed; BHP dropped 0.4% while rival Rio Tinto added 0.7%.

However the big four banks were mostly stronger, with NAB the only exception down 0.6%.

Retailer Billabong was one of the worst performers of the day, slumping over 6%.

The ASX 200 shed one point, settling at 4224.

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Evening Market Analysis: Flat Finish is a post from: Australian Stock Report Market Pulse Blog

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