Australian Stock Report - Market Pulse
Midday Market Analysis: Aussie Struggling
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Publish date: Tue, 04 Sep 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: Aussie Struggling
The Aussie market is struggling so far today, despite Europe markets providing a solid lead last night.
Most sectors are weaker with financials, healthcare and industrials the weakest links.
On the other end of the spectrum, IT and materials stocks are the best performers.
In company news, Fortescue has dropped 2.3% after lowering its FY13 production guidance to between 82 million tons and 84 million tons, from a previous estimate of 86.5 million tons.
The group has also reduced its expected capital expenditure to US$4.6 billion from US$6.2 billion.
Around the region, Asian markets are subdued; the Hang Seng (-0.2%) and Nikkei (+0.1%) are little changed
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