Australian Stock Report - Market Pulse
Midday Market Analysis:Struggling Aussie
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Publish date: Wed, 23 May 2012, 04:01 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:Struggling Aussie
The Aussie market is struggling badly so far today, despite reasonable leads from international markets last night.
The XJO is presently down 45 points (-1.1%), at 4075.
The losses are widespread, with every sector in negative territory; materials, energy and telcos are the hardest hit.
In company news, Iluka has dropped 2.6% after Managing Director David Robb characterised zircon sales as 'soft' in the first quarter at the groups AGM.
Elsewhere, Kingsrose Mining is up 1.4% after it declared a maiden dividend of $0.04 a share.
Around the region, Asian markets are all trading lower; the Hang Seng (-1.5%) and Nikkei (-1.2%) are amongst the hardest hit.
Midday Market Analysis:Struggling Aussie is a post from: Australian Stock Report Market Pulse Blog
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