Australian Stock Report - Market Pulse
Evening Market Analysis: Modest Gains
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Publish date: Wed, 20 Jun 2012, 08:13 AM
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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: Modest Gains
The Australian stockmarket edged higher today after a strong lead from international shares overnight.
The sectors closed mixed on the day; IT and energy stocks gained the most ground, with consumer staples and telcos the hardest hit.
The banking majors finished stronger; NAB was standout performer, adding 2.2%.
The big miners advanced on the day after most commodities' enjoyed a price increase overnight; Rio Tinto and BHP rose 1.7% and 0.3% respectively.
Grange Resources put on 2% after announcing that it wants to sell at least a 30% interest in its $2.57 billion Southdown iron ore project in Western Australia.
Consolidated Media Holdings jumped 9.7% after receiving a $3.50 share conational takeover offer from News Corporation.
The ASX 200 climbed nine points (+0.2%) to settle at 4132.
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