Australian Stock Report - Market Pulse

Midday Market Analysis: Aussie Sinks Lower

marketpulse
Publish date: Tue, 14 Feb 2012, 01:42 PM
marketpulse
0 1,810
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 positive leads provided by international markets overnight, the Aussie market is struggling so far today.

The XJO is currently down 40 options (-0.9%), holding around 4250.

The selloff is widespread with most sectors weaker; financials, energy and industrials are hardest hit, whilst consumer staples and telcos are the best performers.

In company news, Fortescue today hit a fresh five-month high amid speculation it may disclose a takeover bid when it releases first-half results on Thursday.

Elsewhere, GUD Holdings is down more than 6% after releasing FY12 half-year results which have disappointed the market.

In economic news, the latest NAB business survey showed business conditions moved into positive territory in January, posting a rise of two index points.

Business confidence rose one point, to plus four points, with the NAB noting confidence was relatively firm in January but employment remains a problem.

Around the region, Asian markets are all weaker; the Hang Seng is down 0.2% whilst the Nikkei is off 0.3%.

Receive FREE Trading Recommendations, Click Now!

Midday Market Analysis: Aussie Sinks Lower is a post from: Australian Stock Report Market Pulse Blog

Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment