Australian Stock Report - Market Pulse
Midday Market Commentary: Market Holding Up
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Publish date: Thu, 05 Apr 2012, 03:48 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: Market Holding Up
In the context of the brutal leads provided by international markets last night, the Aussie market is holding up fairly so far today.
The XJO originally slumped into a low of 4286 but has bounced back to currently be trading at 4310, just 25 points (-0.6%) underwater.
The losses are widespread, with every sector currently underwater.
Materials, consumer discretionary and consumer staples stocks are the worst performers, whilst utilities and healthcare are the best of a bad bunch.
In company news, Insurance Australia Group is up 0.3%, after completing its $NZ380 million take-over New Zealands's AMI Insurance.
Around the region, Asian markets are all weaker; the Hang Seng (-1.2%) and Nikkei (-1%) are amongst the hardest hit.
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