Australian Stock Report - Market Pulse
Midday Market Analysis: Volatile Morning
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Publish date: Tue, 07 Feb 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 above water heading into the afternoon session, with the XJO currently 15 points (+0.3%) above water, at 4310.
The index has rallied an early low of 4280 but is now treading water ahead of the RBA decision.
Telcos and utilities are the best performers, whilst materials and financials are the weakest performers.
In company news, Cochlear is up more than 8% after reporting their latest interim results, whilst Macquarie Group is weaker after flagging a 25% fall in profit and a share buyback.
Around the region, Asian markets mixed; the Hang Seng (+0.4%) is stronger, whilst the Shanghai Composite (-1.1%) and Nikkei (-0.3%) are weaker.
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