The Aussie market is struggling again today, weighed down by uncertainty in ahead of what might come out of Europe over the weekend.

The XJO is presently down 25 points (-0.6%), at 4033.

Materials are the hardest hit, following a soft night for commodities, followed by financials and healthcare.

Conversely, consumer discretionary and telcos are the strongest performers.

In company news, Sims Metal Management has plummeted 5.8% after downgrading its FY12 profit guidance.

Elsewhere, Acrux is up 2.4% after announcing that it has been given marketing approval by the Pharmaceutical Benefits Advisory Committee for its Axrion testosterone drug.

Around the region, Asian markets are mixed; the Hang Seng (-0.4%) is weaker, the Shanghai Composite is stronger (+0.1%) and the Nikkei is flat.

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Midday Market Analysis: Breaking Down is a post from: Australian Stock Report Market Pulse Blog