Australian Stock Report - Market Pulse
Midday Market Analysis: Early Strength Fades
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Publish date: Mon, 30 Jan 2012, 01:34 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.
After opening around breakeven and pushing a touch higher soon thereafter, the Aussie market has rolled over to currently be trading 15 points (-0.4%) underwater, at 4275.
Most sectors are weaker with consumer staple and IT issues the poorest performers, whilst consumer discretionary stocks are the best in show.
In company news, Leightons is down 1.3% despite being awarded a $260 million contract for the Wheatstone LNG project.
Around the region, Asian markets are mainly weaker; the Hang Seng is off 0.4% whilst the Nikkei is 0.6% weaker.
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