Australian Stock Report - Market Pulse
Midday Market Analysis: Aussie Underwater
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Publish date: Tue, 19 Jun 2012, 05:12 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: Aussie Underwater
The Aussie market is slightly weaker so far today, with the local bulls finding little direction from the leads provided by international markets last night.
The XJO is 15 points (-0.3%) underwater, presently trading around 4125.
The losses are fairly widespread, with most sectors underwater; energy, IT and consumer discretionary stocks are the weakest links.
Conversely, defensive healthcare and consumer staples stocks are the strongest performers.
In company news Unilife Corporation has jumped 4.6% after announcing it had signed a seven-year commercial supply contract with a pharmaceutical company for the ready-to-fill (prefilled) syringe.
Elsewhere Samson Oil and Gas has plummeted 32.9% after releasing an operational update which disappointed.
Around the region, Asian markets are mainly weaker; the Hang Seng is down 0.2% whilst the Nikkei is off 0.3%
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