Australian Stock Report - Market Pulse
Midday Market Commentary: Weak Start
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Publish date: Thu, 15 Mar 2012, 01:37 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: Weak Start
The Aussie market is slightly weaker so far today, currently 20 points (-0.4%) weaker at 4270.
The sectors are fairly evenly balanced between winners and losers, with utilities, telcos, financials the best performers whilst materials and energy plays the weakest.
In company news, Myer has announced a net profit of $88.1 million for the six-months ending January 28, a 17.5% decrease on the previous corresponding period.
Prima Biomed is up 4.8% after it announced that it has received a manufacturing license from the Therapeutic Goods Administration (TGA) to produce the CVac™ immunotherapy ovarian cancer vaccine in Australia.
Around the region, Asian markets are mixed; the Nikkei is up 0.6% whilst the Hang Seng is down 0.1%.
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