Australian Stock Report - Market Pulse

Evening Market Analysis: Share Climbed Higher Today

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Publish date: Tue, 21 Aug 2012, 06:07 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.

Evening Market Analysis: Share Climbed Higher Today

Aussies shares climbed higher today, despite a subdued session on international markets overnight.

A majority of sectors closed above water; energy and telcos were the standout performers. IT and consumer staples finished in the red.

The big four banks were mixed on the day; Westpac lost 0.4%, CBA was flat, whilst NAB (+1.9%) and ANZ (+0.7%) both enjoyed gains.

The mining majors were mixed following a mostly weaker night on commodity markets. BHP added 0.7%, whilst rival Rio Tinto let go of 0.2%.

Monadelphous Group jumped 7.2% after posting a FY12 profit of $137.3 million, a 44.5% increase on last year's result. The result beat analyst expectations.

Elsewhere, Oil Search closed down 0.4% after reporting a first-half net profit of US$107.5 million, a 6.2% fall on the prior corresponding half. The result was broadly in line with analyst estimates.

The ASX 200 put on 19 points (+0.4%) to close at 4383.

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Evening Market Analysis: Share Climbed Higher Today is a post from: Australian Stock Report Market Pulse Blog

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