Australian Stock Report - Market Pulse
Midday Markets Analysis: Modest Gains
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Publish date: Fri, 17 Feb 2012, 01:43 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 faring reasonably well so far today, currently 25 points (+0.5%) higher, at 4204.
The gains aren't as hefty as might have been expected however, given the strong lead provided by Wall Street overnight.
Most sectors are stronger, with IT, consumer staples, and utilities all faring well.
In company news, Sims Metal groups announced a 1H FY12 loss of $556.5 million, down sharply from a $49 million profit a year earlier.
Elsewhere, Santos’ full year 2011 underlying net profit was up 20% at $453 million, slightly missing analyst expectations.
Around the region, Asian markets are all trading higher; the Hang Seng is up 1.2% whilst the Nikkei is 1.7%, putting into perspective just how modest the local market's gains are.
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