Australian Stock Report - Market Pulse

Midday Market Analysis: Good Start

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Publish date: Wed, 08 Aug 2012, 01:26 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.

Good Start

The Aussie market is enjoying solid gains so far today with the XJO presently 30 points (+0.6%) in the green, at 4320.

 

The local bulls are running with the leads provided by international markets overnight, sending most sectors higher.

 

Financials are leading the charge, on the back of a near 2% jump in CBA. WBC (+1.3%) and NAB (+1.3%) are also performing well.

 

Energy and consumer staples are also amongst the top performers whilst utilities are struggling.

 

In company news, Stockland group has dropped 3.8% after announcing a 35% fall in statutory profit for FY12.

 

Elsewhere, Computershare has jumped 5% after reporting a 41% decline in FY12 net profit, but guiding for growth in FY13.

 

Around the region, Asian markets are all stronger; the Nikkei (+1.6%) and Shanghai Composite (+0.3%)

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Midday Market Analysis: Good Start is a post from: Australian Stock Report Market Pulse Blog

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