Australian Stock Report - Market Pulse
Midday Market Analysis: Soft Morning
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Publish date: Fri, 10 Feb 2012, 01:47 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 weaker heading into the afternoon session, currently 25 points (-0.6%) underwater at 4260.
There is no major economic data which has affected the market, so it appears that traders are simply taking some money off the table at the end of the week amid caution over the Greek debt deal.
The IT and telco sectors are the best performers, whilst the materials and energy sectors are the hardest hit.
In company news, Transfield is a standout performer, up 11% after announcing better-than-expected guidance of a $44 million first-half net profit.
Around the region, Asian markets are mainly weaker; the Hang Seng is off 0.5% whilst the Nikkei is 0.3% weaker.
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