Australian Stock Report - Market Pulse
Midday Maket Analysis: Holding Up
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Publish date: Tue, 31 Jan 2012, 01:36 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.
Despite the negative leads provided by international markets last night the Aussie market is faring reasonably well so far today.
The XJO is currently 10 points above water, holding around 4280.
Most sectors are stronger, with consumer discretionary and consumer staples stocks the best performers, whilst energy and financial plays are the hardest hit.
In company news, Platinum Australia has surged as much as 20% after releasing its latest quarterly activities report, whilst Gunns is 30% stronger after agreeing to debt refinancing terms.
Elsewhere, Woolworths has announced plans to sell its struggling Dick Smith consumer electronics division, saying that it was considering several unsolicited offers.
Around the region, Asian markets are mixed; the Hang Seng (+0.7%) and Nikkei (+0.2%) are stronger, whilst the Shanghai Composite (-0.3%) is weaker.
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