Australian Stock Report - Market Pulse

Midday Market Analysis: Positive Aussie

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Publish date: Thu, 26 Apr 2012, 02:12 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: Positive Aussie

The Aussie market is enjoying a positive session so far today, although the XJO has come off its early highs.

The index traded as high as 4394 but has rolled over a touch to currently be trading approximately 20 points above water, at 4380.

The gains are widespread, with IT, telcos and financials the strongest performers, whilst consumer discretionary plays and property trusts are the weakest links.

In company news, Seven West Media shares have plummeted more than 16% after it cut its earnings forecasts due to continued weakness in the advertising markets.

Elsewhere, Lend Lease is down 1.4% after agreeing to pay US$56 million in penalties and restitution in relation to a decade-long fraud involving routinely overcharging customers.

Around the region, Asian markets are mixed; the Shanghai Composite is down 0.2%, whilst the Hang Seng (+0.6%) and Nikkei (+0.1%) are stronger.

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

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