Australian Stock Report - Market Pulse

Evening Market Analyis: Drifting Lower

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Publish date: Thu, 14 Jun 2012, 04:43 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.

The Australian market extended its losses today, following a mostly weaker lead from US and European shares overnight.

A majority of sectors closed underwater, with healthcare and energy stocks the hardest hit.

The big four banks weighed on the market; ANZ and Westpac were the worst of the group, both declining 1%.

Evening Market Analyis: Drifting Lower

Mining majors were more or less down on the day; BHP sank 0.4%, Rio Tinto dipped 0.6% whilst smaller rival Fortescue was the exception adding 0.2%.

In the energy space, Santos (-1.3%) and Woodside (-0.2%) both lost ground, hurt by falling oil prices.

Elsewhere, Perpetual soared 9.9% after rumours emerged that a private equity firm is preparing to approach the asset manager with a takeover offer around $30 a share.

The ASX 200 shed 23 points (-0.6%), to settle at 4041

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Evening Market Analyis: Drifting Lower is a post from: Australian Stock Report Market Pulse Blog

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