Australian Stock Report - Market Pulse
Midday Market Analysis: Strong Aussie
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Publish date: Wed, 04 Jul 2012, 02:28 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: Strong Aussie
The Aussie market is enjoying solid gains so far today, following on from the bullish leads provided by international markets last night.
The XJO is presently 40 points (+1%) in the green, holding around 4165.
The gains are widespread, with most sectors above water; energy, materials and consumer staples are the best performers, whilst healthcare and telcos are the laggards.
In company news, Nexus Energy is up more than 20% after finalising documentation of its new JV with Shell and Osaka Gas over the Crux gas field in the Browse Basin.
Elsewhere, LNC is up close to 4% after cutting costs to ensure profit growth.
Around the region, Asian markets are all higher; the Hang Seng (+0.1%) and Nikkei (+0.4%) are stronger.
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