Australian Stock Report - Market Pulse

Evening Market Analysis: Bears At The Helm

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Publish date: Fri, 25 May 2012, 05:02 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.

Evening Market Analysis: Bears At The Helm

Aussie shares extended their losses today, despite a mostly positive lead from overseas markets following last night's session.

A clear majority of sectors closed sharply lower, with consumer staples and materials amongst the hardest hit.

Property, telcos and utilities managed to buck the trend and record gains.

The big four banks were all weaker; Westpac the worst performer of the group, dropping 1.3%.

In the mining space, BHP declined 1.2% while Rio Tinto lost 0.8%. Both fell on the back of growing global economic uncertainty.

The ASX 200 let go of 27 points (-0.7%), to settle at 4029.

The market lost 0.4% for the week, and has lost a mind-blowing 8.3% over the last three trading weeks.

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Evening Market Analysis: Bears At The Helm is a post from: Australian Stock Report Market Pulse Blog

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