Australian Stock Report - Market Pulse
Midday Market Analysis: Snooze Fest Continues
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Publish date: Wed, 29 Aug 2012, 01:58 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: Snooze Fest Continues
The Aussie marker is little changed so far today, with the XJO 10 points (-0.2%) lower, at 4350.
Most sectors are weaker with materials, utilities and consumer discretionary stocks the weakest links.
Conversely, telcos, IT, and consumer staples are the best performers.
In company news, WorleyParsons is down 0.5% after reporting an FY12 profit of $353.2 million, a 3% fall on the prior year's result.
Elsewhere, Transfield has dropped 6.6% following the release of its FY12 results which contained poor guidance for FY13.
Around the region, Asian markets are mixed; the Hang Seng is down 0.1% whilst the Nikkei is up 0.3%.
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