Australian Stock Report - Market Pulse
Midday Market Analysis: Underwater Aussie
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Publish date: Wed, 30 May 2012, 06:31 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: Underwater Aussie
The Aussie market is firmly in the red today, with local traders ignoring the positive leads provided by international markets last night.
The XJO is presently 35 points (-0.9%) underwater, at 4078.
The losses are widespread, with all but one sector in the red; energy, materials and industrials are the hardest hit, whilst utilities are the lone rangers in the green.
In company news, Wesfarmers is down 1.1% despite announcing sales growth at its Bunnings and Officeworks stores.
Elsewhere, Programmed has jumped 4.4% after reporting a FY12 net profit of $31.2 million, a 41% increased on the FY11 result.
Around the region, Asian markets mainly weaker; the Hang Seng is down 2.1% whilst the Nikkei is 1% weaker.
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