Australian Stock Report - Market Pulse
Midday Market Commentary: Strong Aussie
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Publish date: Tue, 13 Mar 2012, 01:45 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.
Midday Market Commentary: Strong Aussie
The Aussie market is enjoying strong gains so far today, currently trading 50 points (+1.1%) higher at 4245.
The gains are broad based, with every sector in the green.
Healthcare and industrials are leading the charge higher, whilst consumer discretionary and energy staples are the laggards.
In company news, ratings agency Fitch has downgraded Macquarie Group's credit rating from A to A-. However this seems to have had no affect on the share price, with the stock trading 1.4% higher.
Around the region, Asian markets are mainly stronger; the Hang Seng and Nikkei are up approximately 1%, whilst the Shanghai Composite is down 0.2%.
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