Australian Stock Report - Market Pulse
Midday Market Analysis: Local Bull Enjoys Gains
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Publish date: Tue, 27 Mar 2012, 03:34 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: Local Bulls Enjoy Gains
The Aussie market is enjoying solid gains so far today, with the local bulls running with the positive leads provided by international markets last night.
The XJO is currently 40 points (+0.9%) stronger, at 4300.
Every sector is in the green with IT, healthcare and financial stocks leading the charge higher, whilst utilities and energy issues are the weakest links.
In company news, Beach Energy (BPT) has announced that it will attempt to raise $345 million through separate share and hybrid issues.
Elsewhere, Stockland (SGP) downgraded its annual earnings guidance from 31.6 cents to 30.5 cents per stapled security.
The company is blaming a deterioration in the residential housing market and wet weather for the downgrade.
Around the region, Asian markets are all trading higher; the Hang Seng (+1.4%) and Nikkei (+1.7%) are the standouts.
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