Australian Stock Report - Market Pulse

Midday Market Analysis: Aussie Stuggling

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Publish date: Wed, 11 Apr 2012, 01:55 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: Aussie Struggling

On the back of the horrible leads provided by international markets last night, the XJO is currently 30 points (-0.7%) underwater, at 4260.

The losses are widespread, with all but two sectors in the red.

Defensive healthcare and consumer staples issues are holding up, whilst IT, energy and industrials are the hardest hit.

In economic news, consumer sentiment has fallen to its lowest level in eight months.

The Westpac/Melbourne Institute Consumer Sentiment Index fell by 1.6% to 94.5 index points in April, from 96.1 points in March.

In company news, Asciano is down 1.1%, after announcing that it has been unable to reach an agreement with the Maritime Union of Australia over a new workplace agreement for container terminal employees.

Around the region, Asian markets are mainly weaker; the Hang Seng is down 1.3% whilst the Nikkei is off 1%.

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Midday Market Analysis: Aussie Stuggling is a post from: Australian Stock Report Market Pulse Blog

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