Australian Stock Report - Market Pulse
Midday Market Analysis: Solid Gains
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Publish date: Fri, 13 Jul 2012, 01:45 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: Solid Gains
The Aussie market is enjoying solid gains so far today, bucking the bearish trend for international markets over the last 24-hours.
The XJO is presently up 30 points (+0.7%), at 4100.
The gains are widespread, with most sectors in the green; utilities, financials and consumer staples stocks are amongst the best performers.
In company news, Silver Lake Resources has jumped 4.5% after the release of some positive test results from its Magic deposit.
Elsewhere Galaxy Resources has plummeted over 8% after it last night announced that it would temporarily halt operations at its Mt Cattlin project due to high internal inventory levels of spodumene.
Around the region, Asian markets are mixed; the Hang Seng (+0.2%) is stronger whilst the Shanghai Composite (-0.2%) and Nikkei (-0.1%) are weaker.
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