Australian Stock Report - Market Pulse
Midday Market Analysis: Slightly Under Water
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Publish date: Fri, 16 Mar 2012, 01:44 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 Analysis: Slightly Under Water
The Aussie market is slightly under water heading into afternoon trading, currently down by six points (-0.1%) at 4272.
Most sectors are in the red, with materials and energy stocks headlining the declines. Defensive sectors including healthcare, utilities and consumer staples are among the few in positive territory.
In company news, Macquarie Group has had its credit rating downgraded by Moody's due to concerns about earnings growth in a challenging market environment.
Across the Asian region, most of the key indices are trading higher. The Hang Seng is up 0.1%, the Shanghai Composite is ahead 0.8%, whilst the Nikkei is down 0.2%.
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