Australian Stock Report - Market Pulse
Midday Market Analysis: Early Strength Evaporates
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Publish date: Fri, 11 May 2012, 02:16 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: Early StrengthEvaporates
The Aussie market is back in the red today, defying the positive leads provided by international markets overnight.
The XJO is presently 15 points (-0.4%) underwater, trading around 4280.
All but a handful of sectors are in the red, with telcos, materials and utilities the hardest hit, whilst healthcare, consumer staples and consumer discretionary stocks the best performers.
In company news, Western Area NL is up 3.3%, after lifting it production guidance for the current financial year, on the back of its underground operations exceeding expectations.
Around the region, Asian markets are mixed; the Hang Seng is down 1%, whilst the Shanghai Composite (+0.2%) and Nikkei (+0.1%) are slightly ahead.
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