Australian Stock Report - Market Pulse
Midday Market Analysis: Bulls Enjoy A Run
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Publish date: Mon, 16 Jul 2012, 05:37 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: Bulls Enjoy A Run
The Aussie market is stronger so far today, although the local bourse hasn't surged quite like its international peers did on Friday night.
The XJO is 30 points (+0.8%) in the green, holding around 4115.
The gains are widespread, with energy, IT and materials stocks the best performers, whilst telcos are the weakest links.
In company news, Whitehaven coal has jumped over 15% after releasing information about the $5.3 billion takeover offer by a Nathan Tinkler led consortium.
Elsewhere Intrepid mines has climbed 10.3% after announcing some positive results regarding its Tujuh Bukit project.
Around the region, Asian markets mixed; the Shanghai Composite is down 1% whilst the Hang Seng is up 0.2%.
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