The Aussie market is struggling so far today, currently down 60 points (-1.5%) at 4190.

The market ran with the soft leads provided by Wall Street overnight and not even better-than-expected local jobs numbers have been able to save it.

The selloff is widespread, with materials and financials the hardest hit, although every sector is underwater.

In company news Westpac released its 1Q FY12 earnings this morning, showing unaudited cash profit of $1.5 billion, lower than the $1.55 billion posted in the first quarter of FY11 and below analyst expectations.

AMP also announced its full year 2011 earnings, showing a profit of $668 million – an 11% decrease on year, below market expectations.

QR national posted a 1H FY12 profit of $189.3 million, a 31.8% fall on the prior corresponding half, below analyst expectations.

Brambles announced a 1H FY12 profit of US$239.5 million, a 9% rise on the previous corresponding half, missing analyst expectations.

Around the region, Asian markets are mixed; the Hang Seng is weaker whilst the Nikkei is slightly stronger.

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Midday Market Analysis: Tough Morning is a post from: Australian Stock Report Market Pulse Blog