Australian Stock Report - Market Pulse
Midday Market Analysis: Hanging Around
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Publish date: Thu, 03 May 2012, 04:14 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.
The Aussie market is slightly underwater after the morning session, with the XJO off 0.1% to 4430.
IT, utilities and energy are the weakest sectors, whilst property trusts, consumer discretionary and consumer staples are the strongest.
In company news, Tabcorp is up 1.4% after announcing that its 3Q revenue was $724 million, up 2.7% on previous corresponding period.
Midday Market Analysis: Hanging Around
Elsewhere, Asciano has climbed 0.9% after revealing that coal volumes from its Pacific National Coal division climbed 2.6% to 27.3 million metric tons on year.
Around the region, Asian markets are predominantly weaker; the Hang Seng (-0.6%) and Shanghai Composite (-0.2%) are weaker, whilst the Nikkei is up 0.3%.
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